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6:32 AM
Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter in India, signed MOU with Corporation Bank for financing the purchase of the cars manufactured by HMIL. The bank’s general manager M P Kunju and HMIL senior vice president (Marketing and Sales) Arvind Saxena signed the MOU. Under the MOU, Corporation Bank, a major public sector bank today, will be financing prospective constituents to acquire Hyundai cars at a rate of interest of 10.25% for 3 years and concessional processing charges (Rs. 1,000/- flat). The bank will be financing these cars under its ‘Corp Mobi’ scheme that offers attractive interest rates. All branches of the bank from across the country will be covered under this tie-up arrangement. HMIL also achieved yet another key milestone in its decade old journey in India by clocking the fastest three lakh i10 sales since its launch on 31st October, 2007.
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6:32 AM
The domestic sales of Hyundai, India’s second largest carmaker, down but exports. It registered domestic passenger car sales at 24, 754 units during March compared with 29, 401 units in the corresponding month of 2008. The figure shows 15.81 per cent sales fall. The company’s exports rose by 21.63 per cent to 21,406 units as against 17,600 units during the same period of the previous year. The company's cumulative sales (including exports) during March were down by 1.79 per cent at 46,160 units as compared to 47,001 units in the same month a year ago. Hyundai. sold 41,802 units of hatchbacks Santro, Getz, i10 and i20, 4,285 units of Accent and Verna.
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6:30 AM
Hyundai’s compact car Santro will take place of Mumbai’s taxis. Now passengers will enjoy Santro with lots of interior space. The state government decided to phase out about 7,500 ageing cabs. Hyundai shipped 30 Santro cars to the Mumbai taxi union. The number will be increased to 1,250 by the year-end. According to transport department order, taxis that are over 25 years old will have to be phased out, which immediately takes out 7,500 cabs.
Hyundai is offering the Santro cab at a discounted price of Rs.242, 500 for the non-air conditioned variant, while the same model costs over Rs.270, 000 ex-showroom in Mumbai. The company said the Santro cab would feature the black-and-yellow colour scheme required for taxis. The company said the Santro cab would feature the black-and-yellow colour scheme required for taxis.
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6:29 AM
Hyundai Motor India registered car export growth of 63% at 2.35,345 units compared with 1,44,440 units in the year-ago period. It is the highest growth in the car industry. According to the figures released by the Society of Indian Automobile Manufacturers (SIAM), carmakers in India have been able to expand their overseas presence with exports from the country recorded whopping 57.04 per cent growth in the last fiscal.
passenger car exports from India touched 3,31,539 units in FY09 as against 2,11,112 units in the previous financial year. Domestic market leader Maruti Suzuki India was a distant second, registering 32.58 per cent growth in overseas sales at 68,834 units in 2008-09 as against 51,916 units in the previous fiscal. Overall vehicle exports from India grew by 23.60 per cent at 15,30,660 units in the last financial year, while the same stood at 12,38,333 unit s in the previous fiscal, SIAM said.
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6:28 AM
Hyundai Motor India Ltd (HMIL) missed its sales target for 2008-09 by over 23 per cent due to global slowdown. It managed to sell only 2.44 lakh units till the end of March, 2009 compared to the set target of 3.18 lakh units. Moreover, recession forced the company to reduce the target figure to 2.75 lakh cars but that was also out of range of sales. This time there was a miss of 11.2 per cent.
Arvind Saxena, senior vice president (marketing and sales), HMIL, clarify that there were some sign of recovery in the market but a complete revival was needed. However, enquiries were good enough but the conversion rate was low. He told that in these situations it is hard to convince a customer to buy a new car.
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6:27 AM
yundai Motors India Ltd (HMIL) has inked a new deal with its car brand ambassador Shah Rukh Khan. According to this new deal, Shah Rukh Khan will travel in Hyundai vehicles for the whole of IPL season. Alan Ross, MD, Hyundai Motor, South Africa, handed over the car keys to the Bollywood superstar and owner of the IPL team Kolkata Knight Riders Shah Rukh Khan in a function held in Cape Town. Shah Rukh would be provided the facility to offer their car use for his guests. In CY 2008, Hyundai exported around 10,000 units of Santro and the Hyundai i10 to South Africa. The Hyundai i10 and the Santro are also the best selling models in the small car segment in South African market.
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6:26 AM
Hyundai Motors India Limited (HMIL) has planned to shift part of Hyundai i20 production to Europe due to volatility of the rupee, poor power availability, inadequate export incentive and labour problem. However, the company is to set one more production base in the continent. In November 2008, the company sent a consignment of 2,820 units to the European market. Around 17,000 made in India Hyundai i20 cars were exported to Europe in the first quarter of the current year. It may be recalled that the company claimed to produce i20 for the European market, would be met through production facility at the Sriperumpudur. But now due to several reasons, the company wants to move out.
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6:25 AM
India's largest car exporter and second largest car manufacturer Hyundai India has registered a high growth in the month of April this year compare to same period of last year. According to reports the company the domestic sales growed by a margin of 3.5% and at the same time the Exports of the company increased by 19.6%. Overall theHyundai sales increased by 10.9%. Company sold 44371 units in the month of April compare to 40000 units in the same period of last year.
According to Arvind Saxena, Sr. Vice President - Marketing and Sales, HMIL ,"As compared to last year we saw a modest growth in April, 2009. However, we still feel that the market is far from a complete turnaround and it will be a while before we see healthy double digit growth. We will however continue to offer our customers innovative schemes and products to offset the effects of the slowdown".
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6:24 AM
India's largest car exporter and second largest car manufacturer Hyundai Motors is facing a tough task as its employees of Sriperumbudur unit has gone on an indefinite fast to protest the absence of management representatives for a conciliatory meeting. According to news reports the labors are on strike since April 20 and they are demanding the solution of certain of certain labor related issues. As the HMIL Corporate Communication Head Rajiv Mitra said the company is monitoring the situation closely and everything is under control. He also said that the production at the plant is still 90 percent and the management is trying to resolve the issue
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2:54 AM
Daily production at the Chennai plant has been hit by 3-4 per cent by the employees strike. This was confirmed by the country's second-largest car maker Hyundai Motor India. Meanwhile, the company expected to end the strike soon and sort out the issues of employees. However, while talking to the media, company's Vice-President (Marketing and Sales) Arvind Saxena did not disclose the demands of the employees at the plant. He informed that the management was in touch with employees. He accepted that the production was affected marginally.
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2:52 AM
Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter, has signed an Memorandum of Understanding with State Bank of Travancore (SBT), a premier nationalised bank based in Thiruvananthapuram, Kerala, to assist customers in financing auto loans.
The tie-up was signed in the presence of Sri Arvind Saxena, Sr. VP, Marketing & Sales, Hyundai Motor India Ltd and Sri A K Jagannathan, Managing Director, State Bank of Travancore. According to the MoU, HMIL will help both the partners to reach out to wider market and make loans convenient and easy to finance. The automobile company also has strategic tie-ups with Syndicate Bank, Bank of India, Punjab National bank, Canara Bank, Bank of Baroda and Corporation Bank.
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2:52 AM
Hyundai Motors is considering alternative production site for i20 premium compact to a European country. The company said that labour unrest at Sriperumbudur factory was forcing the company to take the decision. On the other hand, sources said that infrastructure problems, currency fluctuations and low export incentives might be the other reasons to shift the production of i20 as timely delivery schedules is a crucial factor in export markets.
Labour union claimed that production at the company's two plants had been affected badly on account of the strike, while the company declared a marginal impact. Arvind Saxena, V-P at Hyundai Motor India informed that the production is marginally affected, and the company had enough stocks to meet any shortfall. He added that if the situation did not improve, it would be necessary to shift the production.
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2:50 AM
Hyundai Motor Company, South Korean auto major, is planning to soar outsourcing components from India for its global operations. At present, the company outsources few percentage from India and now intended to rise it. Hyundai Motor Company Senior Vice-President (Asia & Pacific Division) Young-Kil Chun said that India, the company's second-largest market in the world, has the potential to be a hub for the components industry.
In view of that, Hyundai Motor will rise sourcing from here. He, however, suggested that for India to emerge as a major outsourcing hub for components, it would need to improve and maintain the quality of products. He said that in this connection the country has to maintain consistent quality which is the need of the hour. Hyundai Motor already sources up to 85 per cent of the components locally for the cars it makes in India.
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2:49 AM
The stir at Hyundai's Sriperumbudur factory is continuing and both the sides are firm on their stand. Police arrested around 300 factory workers who had gone on a sudden indefinite hunger strike at the Commission of Labour office here protesting absence of management representatives in a conciliatory meeting. Police informed that the workers were protesting here without the prior permission of Labour office. A Sounderrajan, CITU Tamil Nadu president, and many other prominent workers were among the arrested. CPI (M) state secretary N Varadarajan, in a statement, requested the state government to interfere in the matter and find a solution to the issue. Members of the Hyundai Motor India Employees Union, which has been spearheading an indefinite strike at the company's manufacturing unit at Sriperumnbudur since April 20 demanding recognition and a solution to other labour related issues, commenced the fast following the officials' absence on May 4.
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2:46 AM
Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter, has signed an Memorandum of Understanding with Union Bank of India (UBI), a premier nationalised bank, to assist customers in financing auto loans. The MoU was signed by A.K. Bansal, Field General Manager, (Delhi), Union Bank of India and Arvind Saxena, Sr. Vice President, Marketing & Sales, Hyundai Motor India Ltd. According to the MoU, HMIL will help both the partners to reach out to wider market and make loans convenient and easy to finance. The maximum loan offered by UBI per vehicle is Rs 15 lakh with minimum margin of 15 percent on road price and repayment upto 72 months. Union Bank will process customers requests within two working days after receipt of duly completed application forms with the necessary supporting documents. The automobile company also has strategic tie-ups with Syndicate Bank, Bank of India, Punjab National bank, Canara Bank, Bank of Baroda and Corporation Bank.
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2:32 AM
Strike at Hyundai Motor India's Sriperumbudur plant has come to an end on Friday. The strike was called off after both the sides, workers and Hyundai Motor management, agreed on some points. A Sounderrajan, president of Centre for Indian Trade Unions’ Tamil Nadu arm, said the strike is ended. He added that the company assured them not to take any action against workers after they returned to work and will give answers to every demand of workers. And the management agreed that it would not come to any wage revision settlement with the working committee till May 20.
According to Sounderrajan, the chief demand, that the management recognise the employees union, has not been conceded. Commenting on the wage revision, he said the company used to give increments every three years. The previous wage structure ended on March 31 this year, and the new one was to applied on April 1. He denied to comment on the course of action on the wage issue, saying, “We will do something.” The demands include an increase in the minimum wage, which is Rs 8,000, and explanations for dismissing 65 workers and suspending another 34.
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2:31 AM
Hyundai Motor India Ltd (HMIL) is planning to introduce another variant of the Santro by year end. It will be followed by three variants namely petrol, LPG and CNG. A company officials said that the Santro has been a very successful car for the company. Excited by the success of the existing variants Hyundai Motor might refresh the car by the year end. In the refreshing process, other than engine there would be some changes in looking and other major things. Meanwhile, it is expected that, however, some changes will be done but the price will not vary much. The Santro is at present available in three variants namely petrol, LPG and CNG- and is priced between Rs 2, 59,900 and Rs 3, 69,059 (ex-showroom, Delhi).
Hyundai exports the car to Columbia, Mexico, Sudan, South Africa and Algeria. Till April, the company has exported 4, 39,541 units. Since its launch in India in September 1998, Hyundai has sold 9, 84,418 units in the domestic market. The Santro and the i10 comprise about 75 per cent of the 22,000-23,000 units that Hyundai Motor sells each month in the domestic market.
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2:30 AM
Hyundai Motor India is thinking over to shift the production of i20 from India to Europe. The company spokesman confirmed that in a months time the decision will be taken. It may be recalled that the previous week, there was a strike in the company's Chennai plant following different workers demand. The production of the car was badly hit. In those days, it was learnt that the company would shift the production of i20 from Chennai to Europe.
The car maker also blamed to the poor port infrastructure to support surging exports and no export incentives from the government. HMIL is pondering over making its plant in Czech Republic as an export hub for the model. The other option is to use the new plant being set up in Russia.
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2:29 AM
Hyundai Motors India Limited is going to roll out a new face lifted model of its Santro by the end of the year. It is expected that the new model will come with only cosmetic changes. However, the details of the new additions are not disclosed yet but the new car will have the same Santro engine. The company had rolled out its Santro model nearly a decade ago and has constantly launched newer versions of its one of the most successful models. Earlier, it had decided to phase out Santro after the launch of Hyundai i10 but now it intends to bring a newer version for Hyundai Motors customers in India. Hyundai has sold, so far, 984, 418 models in the country since its launch in India in September 1998. Hyundai Motors has also launched i20 model in India and has received a tremendous response to its premium hatchback model.
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2:28 AM
Hyundai is preparing to challenge Tata's Nano. UK media reports suggests that the company is mulling to launch ultra low cost car. It is learnt that Hyundai’s Indian engineers are working hard in close association with their Korean partners to produce another compact car.
Uk media reports also claims that this car will be released first in the European Union, and then in India. There are plans to bring out 800cc and 1000cc cars, but the company has not officially confirmed it so far. The company reported to claims that it has the required infrastructure and the facilities to manufacture a compact car in India. Earlier, there was frenzy around the world when the Tata Nano was expected to be launched in 2008. rumours were spread there that an ultra-cheap car could be produced well under $2500. Another announcement for another ultra cheap car came from Bajaj Renault Nissan, which is a competitor to the Tata Nano.
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2:27 AM
Hyundai i20 has been awarded by the European New Car Assessment Programme (NCAP) for safety. The car got the maximum possible score and clinched the five star NCAP rating for safety. The India made car was launched in India in December, 2008.
The i20 five-door model scored exceptionally well on all four parameters of the NCAP safety test which assess newly launched cars on four main criteria of safety – adult occupancy, child protection, pedestrian protection and safety assist. The Hyundai i20 has an extensive list of active and passive safety equipment, including six airbags as standard, active head-restraints, front seatbelt pre-tensioners, anti-lock braking system (ABS), Electronic Stability Control, and Electronic Brakeforce Distribution (EBD). The i20 is manufactured at HMIL’s state-of-the-art manufacturing facility in Sreeperumbedur in Chennai. The Hyundai i20 is only manufactured in India and exported to the European Union and other countries from India and also sold in the domestic market.
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2:25 AM
Hyundai Motor India Limited's (HMIL) new cheap small car is likely to hit Indian roads by 2011. The company officials told that the company is developing the car is to manufactured at Sriperumbudur near Chenni in Tamil Nadu. however, the name and other information of the car is still undercover. The is likely to be positioned below the Santro model.
According to media reports, the car is to be priced at around US$ 3,500. however, the company has not meant to compete with Tata Nano. HMIL managing director, H.S. Lheem, told reporters here that the company was developing a small car in the entry level range and it should hit the market by 2011. He added that the demand for more variants is more and the company is to launch new variants in the mid and small size segment. He said that Punjab and southern states Karnataka and Tamil Nadu wanted LPG variant. Whereas, Delhi, Mumbai and Ahmadabad are voicing for CNG variants. As the first step in that direction the company would be launching the diesel variant of Hyundai i20 in the latter part of this year.
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2:24 AM
Hyundai Motors India Limited is learnt to set up a new plant in the industrial state Gujarat. After Tata Motors set up a Nano car manufacturing facility, Hyundai Motors is likely to target the state with new plans. HMIL Managing Director, HS Lheem told that the Gujarat government has approached the company to set up a manufacturing utility in the state.
However, he made it clear that presently the company has no plans but he did't denied the possibility. He was in Vadodara to inaugurate the Aldiam Hyundai Motors dealership in the city which is the 17th dealership in Gujarat taking the total number of dealers in western region to 57. Lheem looked considerably impressed with the support extended by the Gujarat government to the Nano project. The company has recently launched the CNG model Accent Eco. It now braces itself for the upcoming launch of diesel variant of Hyundai i20 by end of this year.
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2:23 AM
Hyundai Motor India Ltd's (HMIL), India's second largest carmaker, cumulative sales were up 8.36 per cent at 43,628 units against 40,261 units in the same month the previous year. It included exports and domestic passenger-car sales. However, HMIL's domestic passenger-car sales registered a 4.11 per cent growth in the month of May at 23,503 units compared to 24,510 units in the same period of the last year.
HMIL said in a statement that exports for the month stood at 20,125 units against 15,751 units during the same month last year, a rise of 27.77 per cent. HMIL sold 39,864 units of hatchbacks Santro, Getz Prime and i10, 3,735 units of Accent and Verna, 27 units of Sonata Transform and two units of its SUV Tucson during May. HMIL Senior Vice-President (Marketing and Sales) Mr Arvind Saxena said that due to higher demand by the European countries, the company was “forced to adjust the domestic production to address the needs of that unique market opportunity.
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2:23 AM
Hyundai Motor India is all set to set up a diesel plant near chennai. Sriperumbudur plant near Chennai is a petrol engine plant of Hyundai Motor already deals in making a Kappa engine. In July, during the budget announcement, if the Government increases excise duty on cars, it may lead to the immediate drop in car sales says the second largest car manufacturing company in India. Car sales were showing signs of recovery as May results had shown, but any increase in excise duty could neutralize the recent gains, says Mr. H. S. Lheem, Managing Director Hyundai Motor India. Mr. Lheem expected the Indian operations to post a 15 per cent increase in revenues this year from $4 billion in 2008. Mr. Lheem said we initiated a feasibility study for setting up a diesel engine plant. He did not give more details about it.
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2:22 AM
Hyundai Motors is likely to launch its Santa Fe in India very soon. The car which was to be introduced last year in India, was ranked top 10 among vehicles for 2008 unveiled in the magazine's issue and was also given the 2008 Consumer Reports "top pick" award. Based on Hyundai Sonata platform, Hyundai Santa Fe is a mid-size crossover SUV. Santa Fe was introduced for the 2001 model year as Hyundai's first SUV, released at the same time as the Ford Escape/Mazda Tribute and Pontiac Aztek.
The rugged SUV Santa Fe, successfully running in the international markets likely to acquire its style and design from coupe and promises to quench the thirst of a buyer for sportiness as well as style.
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2:21 AM
Hyundai is learnt to launch the i20 CRDi diesel model in India. The model is expected to roll out 1.4L CRDi engine which develops 75PS or 90PS. However, no official statement has released so far. Experts says that the new model may be costlier by Rs 70,000 to Rs 100,000 over the existing petrol variant. The new diesel model may hit the showrooms by July 2009. Honda has recently launched its small car model Jazz in the Indian market which has been perceived as an over-priced model. On the other hand, i10 and i20 have been well-received in this segment and a new diesel model of Hyundai’s premium hatchback will lend the much needed leverage in the sales.
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2:20 AM
Hyundai India is all prepared to roll out its diesel variant of i20 on July 7. The car might be available with 1.4L common-rail diesel engine which develops 75PS or 90PS. Once launched it would be pitted against Ford Fusion, the diesel versions of Maruti Swift & Ritz, Skoda Fabia, Fiat Grande Punto etc. However, no official word so far. Experts says that the new model may be costlier by Rs 70,000 to Rs 100,000 over the existing petrol variant. The new diesel model may hit the showrooms by July 2009. Honda has recently launched its small car model Jazz in the Indian market which has been perceived as an over-priced model. On the other hand, i10 and i20 have been well-received in this segment and a new diesel model of Hyundai’s premium hatchback will lend the much needed leverage in the sales.
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2:18 AM
Much-awaited diesel version of the Hyundai i20 diesel has been launched on Tuesday with a new version of petrol operated engine. The car is rolled out in two variants—Hyundai i20 with 1.4-litre CRDI engine and a new petrol variant is a i20 Gamma 1.4 Petrol. The premimum small hatch packs diesel version is priced between at Rs 6.11 to 7.20 lakh. On the other hand new petrol version's price tags are between Rs 7.31-7.42 lakh. All the newly launched models will be available in vibrant seven colours– White, Black, Red, Grey metallic, Blue, Silky Beige.
The base model of the Hyundai i20 has seen a great success in India and abroad. The petrol version is equipped with a 1.4 Litre CRDi powertrain that develops a maximum power for 90 PS @ 4000 rpm and a maximum torque of 224 nm between 1750 - 2750 rpm. While the upgraded petrol variant incorporates a 1.4 Litre unit christened Gamma and generates a maximum power of 100 PS @ 5500 rpm and maximum torque of 139 Nm @ 4200 rpm. The revamped petrol version is provided with a 4 speed automatic transmission only.
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2:17 AM
The decision which was taken during the labour strike at Hyundai Motor India's plant near Chennai in April and May, is still alive and this is to come true may be in 2010. At that time, the company decided to shift the production of the car out of India. Now, the HMIL has come up with new place to produce i20. Nevertheless, the reason for the shifting is said to be the logistics costs and import duty that add 10-15 per cent to the price of cars exported from India. It may be Turkey, the Czech Republic or Slovakia. In spite of the decision, India will be the main production hub for the car. All the expected places, where the production will start, is more closer to its large overseas markets such as Germany, France, Italy and the UK. "We are looking at competitive pricing for the i20 and will shift some portion of its production next year. While India will remain as the main production hub for the car, the European orders will be met from the new production facility,” HMIL CEO & MD HS Lheem said.
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2:16 AM
India's second largest car manufacturer Hyundai Motor India Ltd (HMIL) launched the new uber cool variant of Hyundai i20 in Indian market. Hyundai i20 already stormed the Indian and Internationnal small car market by its stylish sporty look and advanced features.
The new Hyundai i20 packed with the styling features, beige interiors with advanced and luxurious features, active safety feature includind airbags, ABS (Antilock Brake System) with EBD, child lock etc. Hyundai recently launched the diesel and automatic transmission variants of Hyundai i20 in Indian market.
On the launching ceremony of diesel variant of Hyundai i20, H S Lheem, Managing Director, Hyundai Motor India Limited said, “ We delight to to launch the diesel variant of Hyundai i20, especially after its huge success in Indian as well overseas market. Hyundai i20 will also be available now with automatic transmission gearbox – a first time in the premium small car segment."
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2:13 AM
Striking employees of Hyundai Motor India Ltd (HMIL) in Chennai have today called off their agitation following the intervention of the Tamil Nadu Government in the matter. HMIL management has agreed to certain demands, including the reinstating of 20 dismissed employees in consultation with the Labour Commissioner.
The strike was called off after the representative of the striking group signed the wage settlement with the management in the presenceof Tamil Nadu Labour Minister, Mr T. M. Anbarasan, and the Managing Director of HMIL, Mr. H.S. Lheem. About one-fifth of the 1,625 technicians owing allegiance to Hyundai Motors India Employee Union had resorted to the sit-down strike since last Thursday.
The demands that they have put up and that have been met include recognition of the union, taking back 81 dismissed workers and relocating nine technicians who had been transferred out of Chennai. The management of HMIL has agreed to relocate these nine technicians before the end of next year. Mr A. Soundararajan, General-Secretary, CITU, said HMIL has agreed to get the consent from the striking workers on the recent wage settlement without the concurrence of the Workers Committee, which was constituted after elections held among the technicians in August 2007.
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2:06 AM
indian government and the South Korean government have signed a new Free Trade Agreement according to which they will eliminate or reduce import duties on 85 per cent of South Korean exports and 90 per cent of India's overseas sales by 2019.
It will come into being in early next year. Assocham has welcomed the new trade agreement which will improve the trade in automobiles, heavy engineering, electronics area.
Since the trade agreement has also put emphasis on auto exports, the reduced import duties and tariffs will make Korean products cheaper in India. This will include Hyundai cars. Hyundai largely imports its auto components from Korea for manufacturing its cars in India.
The new agreement will create job oppurtunities for Indian engineers in South Korea. It also means that not only Korean company will have better access to 1.2 billion Indian customers.
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2:06 AM
indian government and the South Korean government have signed a new Free Trade Agreement according to which they will eliminate or reduce import duties on 85 per cent of South Korean exports and 90 per cent of India's overseas sales by 2019.
It will come into being in early next year. Assocham has welcomed the new trade agreement which will improve the trade in automobiles, heavy engineering, electronics area.
Since the trade agreement has also put emphasis on auto exports, the reduced import duties and tariffs will make Korean products cheaper in India. This will include Hyundai cars. Hyundai largely imports its auto components from Korea for manufacturing its cars in India.
The new agreement will create job oppurtunities for Indian engineers in South Korea. It also means that not only Korean company will have better access to 1.2 billion Indian customers.
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2:02 AM
orean car maker Hyundai Motor have many an ambitious plans to accomplish by 2011. It is all set to launch its sports utility vehicle Hyundai Santa Fe in India by next year along with a 800cc small car in India. "We will be bringing in the Hyundai Santa Fe to India by next year and we also hope to bring our smaller car than Hyundai Santro, which will be an 800 cc vehicle, by 2011," Hyundai Motor India Managing Director H.S. Lheem told reporters on the sideline of the SIAM annual convention here. He, however, did not divulge details like price range of the two cars.
Hyundai Motor India, India's largest car exporter, also wish to increase its sales in the overseas market in this year itself. Last year, their export figures were like 2.45 lakh units exported to over 100 countries from India. This year targetted exports figure of 2.7 lakh units is expected to be reached, Lheem said, adding that it is looking at increasing domestic sales to 2.8 lakh units this year from 2.45 lakh units in 2008.The car maker is also shifting the production base of hatchback Hyundai i20 to one of its European plants. This will reduce export duty and logistic expense for the company.
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2:01 AM
A totally revised version of Hyundai Santro is ready to be launched in the Indian market on September 01.This statement was made by H.S.LHeem, MD, HMIL while talking to the press at the annual convention of the Society of Indian Automobile Manufacturers. However, he refused to divulge any further details of the same.Hyundai will also let out Hyundai Getz from India in next the two years since seems to have become outdated with the launch of new i-series model. The model will be completely phased out by 2011.
The company is also planning to launch a new 800cc car plus new Hyundai Santa Fe in India in next few years. The small car will find many buyers (upto 70%) in India owing to its price below Rs. 4 lakhs. Hopefully, Hyundai Santa Fe, new SUV of Hyundai may be launched by February this year. The company shall shift part of its export base to Europe but it still intends to hold the Indian market firmly. However, the company stalled its plans due to the economic meltdown and falling sales.
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2:00 AM
Another car company is announced to phase out its car model. This time Hyundai India Motor has decided to phase out its premium hatchback Hyundai Getz in two years. H.S. Lheem, managing director and chief executive, Hyundai India, said at the recently concluded annual convention of the Society of Indian Automobile Manufacturers (SIAM). He also mentioned that a revised version of the Hyundai Santro will be launched on September 1, 2009. The company will launch a 800cc car model in a couple of years. However, he did not reveled more information. Mr Lheem further said that they aimed to sell around 40,000 i 20s in this year. Overall, the company intends to sell about 5.5 lakh units that includes exports. It hope to sell 2.8 lakh units in the domestic market while 2.7 lakh will be exported. The MD said that the production of i-20 will be shifted to Europe mid-next year for export reasons in mid of the next year. On the other hand, Maruti and Toyota have launched Maruti Zen Estilo and Toyota Fortuner respectively.
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1:58 AM
Hyundai India Motor wants to phase out its premium hatchback Hyundai Getz by 2011 but will launch a revised version of Hyundai Santro next month. H.S.Lheem at the annual convention of the Society of Indian Automobile Manufacturers said, "We will launch a revised version of the Hyundai Santro on Sep 1, and an 800 cc car in a few years.
" H.S.Lheem said the company will shift the production of its Hyundai i20 model for export purposes to Europe in mid-next year. The company is expecting that the upcoming festive season would bring better sales around 40,000 Hyundai i20. Hyundai is also expected to increase the production capacity from 2,000 units a day to about 2,500 units, from September 14.
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1:56 AM
yundai Motor India, India's second-largest car maker, has registered a 12.92 per cent growth in the month of August. The company could sold 24,401 units in August. The company's cumulative sales (including exports) during August were up 10.76 per cent at 49,521 units compared with 44,710 units in the same month a year ago, Hyundai Motor India Ltd (HMIL) said in a statement. Exports for the month accounted for 25,120 units against 23,100 units during the same month in the previous year, a rise of 8.74 per cent. The company sold 45,495 units of hatchbacks -- Hyundai Santro,Hyundai Getz Prime, Hyundai i10 and Hyundai i20, 3,979 units of Hyundai Accent and Hyundai Verna and 47 units of Hyundai Sonata Transform during August. HMIL Senior Vice-President (Marketing and Sales) Arvind Saxena said that the company has big expectations from the coming festival season and hopes to do better its last year's performance.
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12:03 AM
Hyundai Motor India Ltd.,introduced the new model of its flagship brand Hyundai Santro. The new Hyundai Santro has been designed with luxurious interiors and improved exterior features to further enhance its appeal to the customers. Commenting on the launch of the new Hyundai Santro, HMIL MD, H. S Lheem said, " Hyundai Santro has been a phenomenal success in India right from the time of its launch up till now. The customers have shown tremendous faith in the technology, design and safety that this product offered. This is why even today Hyundai Santro success continues unabated in India even after a decade.
Through the launch of new Hyundai Santro, we intend to thank all our customers who have chosen to drive this product and make Hyundai into what it is today. The new version of Hyundai Santro is further aimed at delighting our customers with luxurious interiors, advance styling and enhanced comfort." The new Hyundai Santro continues to be powered by the trusted 1.1 eRLX Epsilon engine that develops a whopping 63PS@5500rpm as maximum power and 9.8 kgm@3000rpm as maximum torque and has a proven fuel-economy, durability and power-efficiency.The Hyundai Santro has raised bar on the exterior by changing the body coloured Radiator Grille and Full Wheel Cover and the rear gets decidedly more sporty with the addition of a Rear Spoiler which further highlights the new look Hyundai Santro.
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12:01 AM
Hyundai is world’s fourth largest auto maker company which intends to rank on the top. With the series of launches of new eco-cars in the market, now Hyundai brings its eco-friendly Hyundai i10 electric variants in the market.
The Korean automaker will officially reveal the brand new Hyundai i10 Blue Drive at the upcoming Frankfurt Auto Show that will held in mid-September. The car will have regenerative braking – which means that the battery gets recharged when the car exercises its brakes.
The new Hyundai i10 Blue Drive will have low resistance tyres to boost its speed and range. Currently, Hyundai does not have any plans of bringing the model to Indian market. The iconic Ford Fiesta and Hyundai i10 are the most of 2009.
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