Hyundai Equus launched in China
Hyundai has launched its top-of-the-line luxury sedan - Equus - in China, where it's priced between 677,000-910,000 Yuan (Rs 48.13-64.70 lakh). A Hyundai that costs the equivalent of Rs 65 lakh?! Yes indeed, the Equus is Hyundai's intended competitor to the likes of the Mercedes-Benz S-Class, Audi A8 and BMW 7 Series, so the price shouldn't come as a surprise…
The Equus, which is also due to be launched in the US by mid-2010, comes with a choice of 4.6-litre V8 and 3.8-litre V6 engines. The Hyundai luxo-barge was launched in South Korea in March this year and has been well received in its domestic market. The Korean company is hoping its luxury car will do equally well elsewhere in Asia and in the US. In India, however, Hyundai's bigger cars simply haven't worked and the Equus isn't likely to be launched here in the foreseeable future.
[Via: indiaautomotive]
Hyundai becomes world’s 4th largest automaker
Hyundai-Kia Automotive Group becomes the worlds fourth largest automaker in terms of new car sales! Check out todays major automotive headlines across the world. They all have one thing in common and that is the praise for the Hyundai-Kia Automotive Group, which has become the fourth largest auto maker in the world.
The exciting news is based on recent report issued by Automotive News Data Centre, which reveals new car sales numbers in the first six months of the 2009. According to the report, With 3.564.105 new cars sold in the first six months of fiscal year, Toyota leads GM in second spot with 3.552.722 units sold. In third position, but closing up the gap pretty fast is Volkswagen, while at fourth spot you can find Ford Hyundai!
True, Hyundai and its sister firm Kia Motors, which both form Hyundai-Kia Automotive Group has overtaken Ford and replaced it as the fourth largest carmaker in the world! The Korean largest car manufacturer has sold 8.000 units more than US giant did in the first half of 2009.
Latest stats reveal that Fords global new car sales have shrunk by about 1 million units so far this year, mainly due to global crissis and falling demand for new vehicles. On the other side, Hyundai sales have not been hit as hard as Fords thanks to its broad line-up of fuel-efficient cars that Koreans have on sale in major car markets in the world.
Despite the tough economic times Hyundai will continue to renewing its vehicle range with new models such as the 2010 Hyundai Sonata and next generation Tucson crossover, which will both be unveiled later this year.
Other new models expected to hit the market next year include new Hyundai small coupe and mini-MPV model based on Kias upcoming YN mini-MPV. All of these new models will be crucial to keep Hyundai safe from Ford, which will soon bounce back with new Fiesta and several other new models.
[Via: hyundai-blog]
Hyundai Vehicles to Become Cheaper in India
Indian government and the South Korean government have signed a new Free Trade Agreement. According to Seoul officials, the agreement 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 is expected to come into force early next year. Assocham has welcomed the new trade agreement which will improve the trade in areas of automobiles, heavy engineering, electronics, etc.
Since the trade agreement also emphasizes 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.
Once the agreement is ratified by the Korean government early next year, it would mean that Hyundai auto components will see a huge slash in their prices which would in turn make Hyundai cars cheaper. Car parts accounted for 12.6% of Korea's US$ 8.98 billion worth of exports to India last year. The new agreement also means that not only Korea will have better access to 1.2 billion Indian customers but also new job market for Indian engineers in South Korea.
[Via: cartradeindia]
Rise in Hyundai’s Domestic Passenger Car Sales
Hyundai Motor India, the second largest car manufacturer of India has reported an increase in sales of its domestic passenger cars. Hyundai has reported that it has sold over 23,193 passenger cars in India while it had just sold 15,066 units in July last year, an increase of 53.94%.
The ever-growing sales of the Hyundai, which also includes the exports of the company, have also increased by 25.98%, when the company sold 45,543 units during this July compared to a 36,152 units in July 2008. The company exported over 22,350 units during July 2009, where as it has sold only 21,086 units same month last year marking a rise of 5.99% this year.
Hyundai sold 41,779 units of hatchbacks which include Santro, i10, Getz Prime, and i20, 3,720 units of Accent and Verna, and 44 units of Sonata Transform during the month of July.
"HMIL registered a steady growth rate in the month of July and it seems the market is stabilizing at this point. Strong demand for its latest models i20 has helped HMIL in maintaining its share in the domestic market," said Arvind Saxena, HMIL senior vice-president (marketing and sales).
"In the coming months, we hope to see both the export and the domestic market picking up, especially with the festival season starting next month," Saxena said.
[Via: carazoo]
Toyota to source skin panels from Tata Steel
Toyota is planning to launch its new small car model in India. World's largest car maker Toyota is expected to source the skin panels from Tata Steel for its new car which is expected to launch by 2011. Tata Steel may also be supplying these skin panels to Nissan Motors in India.
"We are talking to Toyota for supplying skin panels for the company's (Toyota's) new small car to be launched in India," said a senior Tata Steel official, confirming that the company is in discussion with Toyota Kirloskar Motor (TKM), the Indian joint venture of the Japanese car giant with the Kirloskar Group.
The skin panels give a fine shape to any car's out body and are responsible for its looks. The skin panels need to be of highest quality of steel to withstand external harshness apart from being strong and thin.
Tata Steel is already providing skin panels to Tata Motors, Hyundai, Maruti Suzuki and Honda Siel Cars India Limited. It also provides skin panels for Toyota Innova already so Tata Steel may be the natural choice for Toyota after all for its small cars.
[Via: cartradeindia]
Hyundai to Hire 1000 more people
Hyundai Motor India plans to increase its output by 20 per cent. In order to meet its target, India second largest car maker will hire 1,000 people by the end of this month. The company has already increased its productivity by about 25 per cent since July and its workforce by over 1,000 employees at its two plants in Chennai.
H S Lheem, MD and CEO of Hyundai Motor India said that the company have started the third shift from July 10 at plant-I and hired over 1,000 people. The third shift at plant-II will begin from September 14 and Hyundai intends to recruit 1,000 more people.
The Korean car company is currently producing about 2,000 units per day in India. The production will go up by 400 units more once the third shift at plant-II starts. Mr. Lheem said the company's total workforce will cross the 12,000 mark after induction of new staff this month.
Moreover, the company is expected to increase its headcount to 800 Indian staff from the existing 210 people at its R&D centre in Hyderabad. The company has sold 45,543 units in July, of which 22,350 cars were exported.
[Via: Carazoo]
Indian cars acceptable in America, says AutoPacific research report
AutoPacific, a US-based automotive marketing research and product-consulting firm, has just released the results of its latest study, which finds that Indian cars are actually acceptable to North American buyers. Well, almost acceptable, since just 11% of the respondents in the study said they would be open to the idea of buying an Indian car. On the other hand, as many as 15% of the respondents in the same study said they would consider buying a Chinese car.
While 11% and 15% might seem quite low, only 16% of the respondents in the same study said they would consider buying a Korean car and Korean have been present in the US market for more than two decades. 'As Hyundai and Kia have been on the American scene for decades now, it's surprising that consideration for Chinese and Indian brands, sight unseen, would be about as strong as it is for the Korean brands,' says George Peterson, president, AutoPacific.
'However, with so many premium and high-tech non-automotive products already being made in China and purchased by Americans, why not automobiles too? It appears that buyers in America are willing to give Chinese and Indian vehicles a chance right out of the box. Understanding these consumers will be critically important to the success of any newcomer,' he adds.
The study, titled 'Opportunity for Chinese and Indian Brands in the USA,' is based on a survey of more than 30,000 new car and truck buyers. And according to Peterson, who was in overall charge of conducting the study, those who are prepared to consider buying Indian cars or Chinese cars tend to be young, well-educated and affluent for their age. Most of these people also hold good jobs in administrative, health care and middle management positions, and most are current owners of Japanese or Korean cars.
Given the results of this study, it does seem that M&M and Tata Motors should - and probably will - start exploring the US car market at some point in the future. Of course, M&M is already looking at launching its Scorpio-based pick-up trucks in the US, perhaps by the end of this year. And with its new crossover and luxury sedan waiting in the wings, we suppose Tata Motors can't be too far behind either!
[Via: indiaautomotive]
Hyundai India Ties Up With IOCL
Hyundai India has tied-up with Indian Oil Corporation Ltd. (IOCL) to jointly launch an innovative promotional campaign targeting the existing and potential customers. In this first of its kind initiative, Hyundai Motor will showcase its products highlighting their fuel-efficiency over their competition.
The initiative will also communicate the ongoing promotional schemes on Hyundai cars. The campaign will continue for a period of two months across 120 IOCL retail outlets located in 12 cities in India. These cities include New Delhi, Mumbai, Chandigarh, Ludhiana, Lucknow, Jaipur, Aurangabad, Agra, etc.
As a part of this campaign, Hyundai will set up a kiosk in every IOCL retail outlet that will have the Santro & i10 on display and a trained sales consultant to address the queries from the customers.
Through this campaign, Hyundai will facilitate its discerning customers to avail the exchange and upgrade benefits on its products. The outlets will also serve as check-points, as Hyundai will provide 'Always Around' and 'Free Car Care Clinic' services as well as Monsoon check up facilities for its customers.
[Via: motorbeam]
Hyundai Planning i10 Diesel
Hyundai India is planning to launch the diesel variant of its hotselling i10 in the Indian market. According to the media reports, the diesel variant of the i10 could hit the market with in the next 8-12 months.
Hyundai already sells the i10 diesel in the European market where it comes with a 1.1 Litre Common Rail Turbodiesel engine with 75 Ps of power and 153 nm of maximum torque. The new diesel engine in i10 will enable Hyundai to better compete with the likes of Maruti Suzuki's Swift and Tata's Indica Vista.
According to sources Hyundai is also looking for land to set up diesel engine manufacturing plant in India on the lines of Ford which will manufacture its diesel engines in India shortly. The 1.4 Litre diesel under the hood of i20 is currently imported resulting in a higher price tag for the car.
[Via: CC]