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Hyundai Motor sets 2024 global sales target of 4.24 mln vehicles
Reuters
·
1y ago
Medial
Hyundai Motor has announced its global sales target for 2024, aiming to sell 4.24 million vehicles, a slight decrease from its 2023 target of 4.32 million. The company's affiliate, Kia Corp, is targeting to sell 3.2 million vehicles globally, maintaining the same target as in 2023.
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Hyundai sales dip 3.2% in July at 64,563 units
Money Control
·
11m ago
Medial
Hyundai Motor India reported a 3.2% decline in wholesale sales for July, with 64,563 units sold compared to 66,701 units sold in July 2023. Domestic dispatch of vehicles to dealers fell 3.3% to 49,013 units, while exports declined 2.81% to 15,550 units. However, the company noted an overall sales growth of 4.31% year-on-year from January to July 2024, with SUVs accounting for 66.6% of total domestic sales. The new Hyundai CRETA achieved 1 lakh unit sales and achieved its highest ever monthly domestic sales of 17,350 units in July 2024.
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‘Buoyant Bharat’ boosts passenger vehicle & two-wheeler sales growth in February
Thehindubusinessline
·
1y ago
Medial
In February 2024, passenger vehicle (PV) sales in India saw growth, driven by robust demand for new models. Maruti, Hyundai, Tata, Mahindra, Toyota, and Honda all reported an increase in wholesale numbers. Maruti's domestic sales grew by 9%, with SUVs performing well, while Hyundai reported a 7% growth and saw increased rural penetration. Tata Motors' PV sales increased by 20%, led by strong SUV sales. In the two-wheeler segment, Hero MotoCorp witnessed a 19% increase in sales, while TVS Motor and Bajaj Auto reported growth as well. However, commercial vehicles and tractor sales declined during the same period.
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Tata Motors, M&M, Maruti, Bajaj Auto, Hero MotoCorp: How auto stocks fared on February sales data
Business Today
·
5m ago
Medial
Tata Motors shares fell by 0.83% due to a 9% drop in February domestic sales. Mahindra & Mahindra saw a 15% sales increase, while Hyundai Motor India experienced a 3% decline. Maruti Suzuki's domestic sales rose by 1%. Escorts Kubota's agri-machinery sales increased by 11.4%. VE Commercial Vehicles had a 9% growth in sales. Hero MotoCorp faced a 20% decrease, Bajaj Auto grew by 2%, and TVS Motor Company saw a 10% sales increase.
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PV sales continue on upward trajectory in February
Money Control
·
1y ago
Medial
Passenger vehicle (PV) sales in India have continued to rise for the second consecutive month in 2024, with carmakers delivering approximately 373,177 units to dealers. This marks the highest auto wholesales for February in any year, driven by strong demand for SUVs, positive consumer sentiment, increased availability of waitlisted models, and new rollouts. Overall, PV sales have increased by 11.3% year-on-year, reaching a total of 3,859,000 units for the April 2023-February 2024 period. Maruti Suzuki India, Hyundai Motor India, M&M, Tata Motors, MG Motor India, and Toyota Kirloskar Motor reported positive sales growth.
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EV Push: Hyundai plans ₹700 crore battery plant by ’25
Livemint
·
1y ago
Medial
Hyundai Motor India is investing ₹700 crore to establish a battery assembly plant in Chennai with an annual capacity of 75,000 battery packs by 2025. The company believes that localization of battery packs will play a crucial role in reducing the prices of electric vehicles (EVs) in the country, addressing concerns around EV affordability. Hyundai aims to achieve a 20-22% EV penetration by 2030, surpassing the government's target of 30%. The carmaker is also planning to introduce a made-in-India EV for the mass-premium market by 2025.
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Hyundai Motor India bets on CNG vehicles, sees accelerated demand
YourStory
·
8m ago
Medial
Hyundai Motor India is experiencing increasing demand for its models equipped with compressed natural gas (CNG) fuel technology. CNG models' contribution to the company's domestic sales increased to 11.4% in FY24 from 9.1% in FY22. In the April-October period of this fiscal year, CNG models made up 12.8% of the company's domestic sales. Hyundai aims to meet customer demand by introducing the 'Hy-CNG Duo' in its EXTER and Grand i10 NIOS models. The company expects the demand for CNG vehicles to continue growing, with plans to increase the number of CNG stations from the current 7,000 to 17,500 by 2030.
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Waymo in talks with Hyundai Motor to produce self-driving taxis
Economic Times
·
10m ago
Medial
Alphabet's Waymo is reportedly in discussions with Hyundai Motor to manufacture its self-driving vehicles. Waymo is considering using Hyundai's Ioniq 5 electric vehicles for its sixth-generation self-driving technology, potentially replacing China's Zeekr vehicles that Waymo is currently testing. These talks come as President Joe Biden's administration imposes increased tariffs on Chinese imports, including electric vehicles. Waymo declined to comment on the speculation, but confirmed they are working on validating their technology on the Zeekr platform. Hyundai Motor stated that no decisions have been made regarding new business ventures, referring to their vehicle platform for self-driving tech companies.
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Hyundai Motor India records highest-ever sales of 7.77 lakh units in FY24
Thehindubusinessline
·
1y ago
Medial
Hyundai Motor India (HMIL) announced that it achieved its highest-ever domestic sales in the financial year 2023-24, with 6.14 lakh units sold, an 8.3% increase from the previous year. The company also recorded its highest-ever annual total sales of 7,77,876 units, an 8% growth compared to FY 2022-23. Toyota Kirloskar Motor and Mahindra & Mahindra also reported significant sales growth, while MG Motor India experienced a decline in retail sales.
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India growth story robust, not concerned about near-term pressures in auto industry, says Hyundai's Tarun Garg
Money Control
·
9m ago
Medial
Hyundai Motor Company sees great potential in the Indian market and believes it is outpacing other economies in terms of automotive industry growth, according to Tarun Garg, COO of Hyundai Motor India. Despite near-term pressures in the industry, Garg states that the Indian growth story is robust and the market rebounds quickly. Hyundai plans to launch three to four electric vehicles and establish a strong EV charging infrastructure. They also aim to localize the EV supply chain to gain a larger market share in the EV space.
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Intend to move away from conventional vehicles, focus on NEVs: JSW MG Motor Director Parth Jindal
Money Control
·
10m ago
Medial
JSW MG Motor India is shifting its focus towards new energy vehicles (NEVs) and aims to move away from conventional internal combustion engine vehicles. Parth Jindal, company Director, stated that NEVs will be the cornerstone of MG going forward, with a target of over 50% of total sales coming from electric vehicles by 2024. The company recently launched its electric crossover utility vehicle, MG Windsor. It plans to introduce a new car every four to six months and aims to avoid traditional ICE vehicles, although it may consider certain models if the technology has not yet developed.
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