Citi noted that the combination of lower interest rates, tax changes and GST cuts could drive industry growth beyond its earlier projections.
Hyundai India share price: Kotak Institutional Equities maintained a 'Buy' rating on the stock, with a target price of Rs 2,050 per share. This implies an upside potential of over 10% from the stock's previous closing price.
The move puts Hyundai India in step with the local units of Toyota Motor Corp. and Suzuki Motor Corp
The company has invested approximately US $6 billion in India since its inception, and allocated an additional Rs 1,500 crore towards upgrading and modernizing its Chennai manufacturing facility in Sriperumbudur, Tamil Nadu, which remains the company's first integrated car manufacturing plant outside South Korea.
Hyundai, which already offers the Creta EV and other electric models, is also set to showcase its last-mile mobility concepts at the upcoming Bharat Mobility Global Expo.
The car will have two battery pack options: 51.4kWh (Long Range) and 42kWh offering driving range of 473 km and 390 km, respectively
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While some carmakers like Maruti Suzuki have stated that price adjustments will vary depending on the model, others like Hyundai, M&M, BMW are echoing similar strategies to maintain profitability
Hyundai India sold a total of 1,91,939 units of Passenger Vehicles (PVs) during Q2, out of which export volumes stood at 42,300 units. The automaker had sold a total of 2,09,777 units in the year-ago period
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The Indian arm of the South Korean carmaker will be making investments towards capacity expansion, product and platform development, new launches, etc.
Hyundai Motor India distributed a special dividend of Rs 13,270 per share, amounting to a total payout of Rs 10,782.42 crore during FY24.
If the listing plans fructify, this deal, a pure OFS or offer for sale by the promoter, would be India Inc's biggest-ever IPO and beat the earlier record set by state-owned LIC's $2.7 bn listing in 2022
The investment of Rs 180 crore has been earmarked towards the development and construction of the facility.
While the high base effect of last year also resulted in modest growth in volumes, industry players reckon that new launches such as as Maruti Suzuki Swift, Hyundai Creta, etc., continued to contribute to incremental volumes
Hyundai Insert will launch first in South Korea this summer, followed by Europe, the Middle East, and Asia Pacific in due course
The country’s second largest carmaker also intends to deepen its localised supplier network by adopting a localisation strategy for the Talegaon plant in India.
During the April-December period of FY24, the country's second largest carmaker paid Rs 8,088.80 crore to parent company based in Seoul, as per the DRHP.
Hyundai Motor India was India's second largest carmaker after Maruti Suzuki in FY24 in terms of passenger sales volumes
During the first 11 months of this fiscal, passenger carmakers sold 38,59,000 units of sedans, utility vehicles (UVs) and hatchbacks, registering an 8.6 percent increase from 33,53,000 units during the corresponding period last year
On the back of the Exter and other SUVs in it stable, HMIL is confident of growing its overall sales to about 6,00,000 units in CY2023. It hopes that by then the contribution of SUVs, which is 54 percent currently, will go up to 60 percent of its total sales
The South Korean carmaker claims an ARAI-tested mileage of 19.4kmpl for the manual variant, 19.2 kmpl for the AMT and 27.1km/kg for the CNG version. While the manual trims are priced between Rs 5.99 lakh and Rs 9.31 lakh, the automatic variant is tagged at Rs 7.96 lakh. (All ex-showroom, Delhi).
Wholesale dispatches of passenger vehicles remained at healthy levels in April even amid concerns over moderation in demand on account of the rise in the cost of ownership, ICRA said.
Hyundai launched Ioniq 5 EV in India on January 11 at the first day of Auto Expo 2023, in the presence of their brand ambassador Shah Rukh Khan. The Ioniq 5 crossover is priced at Rs 44.95 lakh (ex-showroom) for the first 500 customers.