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New Delhi: <keyword id="20081557" type="General" weightage="20" keywordseo="auto-industry" source="keywords">Auto industry</keyword> players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. <keyword id="20034542" type="General" weightage="100" keywordseo="Kia-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Kia India" meta.hostid="153" meta.entityid="Kia India">Kia India</keyword> National Head of Sales and Marketing Hardeep Singh Brar told PTI that the last 3-4 months were not good for the industry as sales declined compared to the same period last year. "With pent-up demand of the last few months there and government investment starting to flow in, we feel things should start improving from here onwards," he noted. Brar said the booking momentum in September was good, which is a strong indication for October. "And this time, all festivals are in October..we expect about 5-10 per cent sales growth during the period as compared to last year," he added. Brar said that in the January-April period, the passenger vehicle industry witnessed a growth of 7 per cent, but in May-September, there was a dip of about 2-3 per cent, leading to the buildup of inventory. <keyword id="20505895" type="General" weightage="20" keywordseo="Nissan-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Nissan Motor" meta.hostid="153" meta.entityid="Nissan Motor">Nissan Motor</keyword> India Managing Director Saurabh Vatsa said the entire industry is looking at the festive season to bring some cheer after witnessing tough three months. "I think it has been a challenging period. The festive period will define the quarter, and the third quarter will define what happens in the remaining part of the year," he said. Everybody is looking forward to the festive seasons, especially from the industry, he added. <keyword id="19967765" type="General" weightage="20" keywordseo="Toyota-Kirloskar-Motor" source="keywords" meta.keywordsubtype="org" meta.entityname="Toyota Kirloskar Motor" meta.hostid="153" meta.entityid="Toyota Kirloskar Motor">Toyota Kirloskar Motor</keyword> Vice President, Sales-Service-Used Car Business, Sabari Manohar said the company is witnessing enhanced footfalls and enquiries. "Key to meeting this rising demand has been our strategic operational improvements, such as the introduction of a third shift. This has significantly optimised our supply chain, particularly for high-demand models like the Urban Cruiser HyRyder, where waiting periods have been reduced," he said. Additionally, there is a clear shift in sentiment, with an increasing embrace of eco-friendly technologies, not only in urban areas but also in Tier II and Tier III markets, Manohar said. <keyword id="19909974" type="General" weightage="20" keywordseo="Maruti-Suzuki" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki" meta.hostid="153" meta.entityid="Maruti Suzuki">Maruti Suzuki</keyword> India Senior Executive Officer (Marketing and Sales) Partho Banerjee said the company is trying to increase its sales by bringing in some limited edition models. He noted that during Ganesh Chaturthi and Janmashtami, the company witnessed good traction in sales and has been able to generate volumes as per the business requirements. <keyword id="19906967" type="General" weightage="20" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="153" meta.entityid="Tata Motors">Tata Motors</keyword> Passenger Vehicles MD Shailesh Chandra said in its monthly sales statement that registrations have picked up pace towards the end of the month (September), which augurs well for the festive period ahead. "We remain focused on driving up consumer preference for our exciting range of vehicles while maintaining the health of our dealer network," he added.

Carmakers expect festive period to bring in robust sales, improve overall buyer sentiment

<keyword id="19906967" type="General" weightage="100" keywordseo="Tata-Motors" source="keywords" meta.keywordsubtype="org" meta.entityname="Tata Motors" meta.hostid="261" meta.entityid="Tata Motors">Tata Motors</keyword> is looking to consolidate its position in the <keyword id="20027167" type="General" weightage="20" keywordseo="SUV" source="keywords">SUV</keyword> segment as it marks its entry into the highly competitive mid-size space which is currently dominated by South Korean and Japanese carmakers. The Mumbai-based auto major on Monday launched a midsize SUV coupe <keyword id="20400827" type="General" weightage="20" keywordseo="Curvv" source="keywords">Curvv</keyword> with petrol and diesel powertrains with a price starting at Rs 9.99 lakh. The company has already unveiled the electric version of the model in August. The model would be competing with the likes of <keyword id="2883300" type="General" weightage="20" keywordseo="Hyundai-Creta" source="Orion">Hyundai Creta</keyword>, <keyword id="7720018" type="General" weightage="20" keywordseo="Kia-Seltos" source="Orion">Kia Seltos</keyword>, Maruti Suzuki Grand Vitara, Toyota Urban Cruiser Hyryder, and Honda Elevate, among others. "Curvv is being positioned in the fast-growing, mid-size SUV segment, which is roughly 16% of the whole industry (passenger vehicle) size. If translated into numbers, it would be like 7 lakh units a year," Tata Motors Passenger Vehicle MD Shailesh Chandra told PTI in an interaction. The segment is very competitive with various brands having a product already in the market, he noted. Therefore, if one enters this segment so late, then it will have to think of coming up with a slightly differentiated approach, Chandra said. "And that was the thinking behind Curvv, which comes with an SUV coupe body style. We saw that this was gaining popularity globally, especially in the premium or luxury segment," he added. Further, he said: "So we thought, why don't we bring this into the crowded segment as a fresh, refreshing kind of a body style." When asked about sales expectations from the model, Chandra said: "We have come with this model, with the best in class features. It's a differentiated product in this and therefore we think it is going to perform well." He noted that Tata Motors currently has a market share of around 19% in the SUV segment and expects the new model to help it grow further. "We'll gain from where we are. The market leader in SUVs would be, say, 21-22 %, so it's a crowded segment. It's not that one player is holding the roost here. "All the top 3-4 players in SUVs are around the same market share figure," Chandra said. He noted that the company is also looking to enhance its dealer network by around 10-15 % in the next one year. "We have a very aggressive plan of expanding dealerships. We will need to have an enhanced network. We will have to make them bigger, also in size. And therefore, for EVs, we have started separation of the outlets. So there will be expansion in touchpoints, not only on the sales side, but big time on the service side as well," Chandra said. <keyword id="20400828" type="General" weightage="20" keywordseo="tata-curvv" source="keywords">Tata Curvv</keyword> comes with two petrol and a diesel engine option. "The introduction of the Curvv further enhances our SUV portfolio as a comprehensive mid-SUV product with multiple powertrains, several first-in-segment features, a brand new capable architecture - ATLAS and Level 2 ADAS," Chandra said. Besides Curvv, Tata Motors sells models like Punch, Nexon, Harrier and Safari in the domestic market.

Tata Motors eyes gains in SUV space as it drives in its Curvv

South Korean auto major <keyword id="20190176" type="General" weightage="20" keywordseo="hyundai-motor" source="keywords">Hyundai Motor</keyword> Group on Thursday said it is looking to expand the annual production capacity across <keyword id="19906087" type="General" weightage="20" keywordseo="Hyundai" source="keywords">Hyundai</keyword> and <keyword id="19997865" type="General" weightage="20" keywordseo="Kia" source="keywords">Kia</keyword> brands in India to 15 lakh units per year, as part of its mid-to-long-term strategy in the country. Outlining the company's strategy for the India market, Hyundai Motor Group (HMG) Executive Chair Euisun Chung said the automaker plans to roll out more <keyword id="19962337" type="General" weightage="20" keywordseo="EVs" source="keywords">EVs</keyword>, while also utilising the country as an export hub for the neighbouring countries. Chung visited India on April 23 to review the group's mid-to-long-term strategies to solidify its position as a leading mobility provider. Hyundai Motor Group is expanding its manufacturing footprint in the Indian region with the establishment of an annual production system of 1.5 million vehicle units for Hyundai Motor India and Kia India combined, the automaker stated. Hyundai Motor India will start operating its Pune plant, acquired from General Motors last year, in the second half of the next year. Hyundai Motor is currently making improvements to the facility to create a production hub capable of building more than 200,000 units annually, it said. With the addition of the Chennai plant's production capacity of 824,000 units, Hyundai Motor will have an annual production capacity of over one million units when combined with the Pune plant, it added. Besides, Kia India's yearly production capacity will also be expanded to 431,000 units within the first half of this year. "Combined together, Hyundai Motor Group will have the ability to produce approximately 1.5 million units annually in India," HMG said. The group also plans to expand its EV lineup and create an EV ecosystem to accelerate customer uptake and expand charging infrastructure. It will also strengthen its SUV sales leadership in India, HMG said. Hyundai Motor India plans to unveil its first locally produced EV in India next year, it said. Starting with the mass production of its first <keyword id="21425421" type="General" weightage="20" keywordseo="electric-SUV-model" source="keywords">electric SUV model</keyword> at the Chennai plant at the end of 2024, the company plans to further produce five EV models by 2030, it added. Hyundai Motor India will also utilize its sales network hubs, expanding the number of EV charging stations to 485 by 2030, HMG said. Kia India will also start production of its local EV model in 2025 and plans to further expand its EV models, it added. The company will also focus on building EV charging infrastructure, it stated. "India is among the fastest-growing economies globally, and as this growth continues the strategic importance of Hyundai Motor India will only increase," Chung said while addressing employees in a town hall meeting. He further said, "by leveraging our strong reputation and competitive quality in India, we aim to expand exports to neighbouring countries, making India the global export hub to boost our regional market competitiveness." Chung said that by around 2030, the automaker expects to see a substantial expansion in the EV market in India. "In anticipation of this evolution, Hyundai is focused on developing locally tailored EVs aimed at establishing us as a leading global EV brand," he added. "We also plan to proactively build charging stations at strategic locations 'including dealerships' to facilitate the adoption of EVs," Chung said. Hyundai Motor India sells models like Creta, Verna while Kia India sells models like Seltos, Carens and Sonet in the country. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-narzo-70-narzo-70x-5g-smartphones-launched-in-india-starting-at-11999/articleshow/109557895.cms" target="_blank">Realme Narzo 70, Narzo 70X 5G smartphones launched in India starting at ₹11,999</a><a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-let-loose-event-scheduled-for-may-7-ipads-expected-to-be-launched/articleshow/109553148.cms" target="_blank">Apple Let Loose event scheduled for May 7 – New iPad models expected to be launched</a>

Hyundai plans to scale up production capacity, introduce more EVs in India

New Delhi: The upcoming Initial Public Offering (IPO) of <keyword id="20214518" type="General" weightage="20" keywordseo="Hyundai-Motors-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyundai Motors India" meta.hostid="261" meta.entityid="Hyundai Motors India">Hyundai Motors India</keyword> has sparked significant interest in the Indian markets, but a recent report by <keyword id="20303939" type="General" weightage="20" keywordseo="Aequitas-Investments" source="keywords" meta.keywordsubtype="org" meta.entityname="Aequitas Investments" meta.hostid="261" meta.entityid="Aequitas Investments">Aequitas Investments</keyword> suggests it may not be as promising for <keyword id="19953411" type="General" weightage="20" keywordseo="Indian-investors" source="keywords">Indian investors</keyword> as anticipated. The report highlighted several concerns, pointing to broader industry challenges and the valuation mismatch as reasons for caution. It said "Given the headwinds that the Global <keyword id="20081560" type="General" weightage="20" keywordseo="automobile-industry" source="keywords">Automobile Industry</keyword> is facing coupled with signs of a slowdown in India, the upcoming IPO might not be a great deal for Indian Investors" Hyundai Motor Company, the parent firm based in South Korea, is set to offload shares worth Rs 25,000 crore through an Offer for Sale (OFS) in the Indian market. However, the report suggested that the current global headwinds facing the automobile industry, combined with signs of a slowdown in India, may make this IPO less attractive for Indian investors. One of the key issues flagged in the report is the valuation of Hyundai Motors India. The report noted that despite contributing only 6.5 per cent of Hyundai's global revenue and 8 per cent of its overall profitability, the Indian unit is expected to be valued at approximately 42 per cent of the parent company's market capitalization upon listing. This valuation discrepancy raises concerns about whether the IPO price is justified given the Indian unit's relatively modest contribution to Hyundai's global business. "Despite contributing only 6.5 per cent of the global revenues and 8 per cent of the profitability, Hyundai's India unit will be valued at approx. 42 per cent of the Parent Co.'s MCap on listing" the report added. From Hyundai's perspective, the move makes sense. In South Korea, Hyundai's stock currently trades at a price-to-earnings (P/E) ratio of just 5x, making the sale in India potentially more lucrative. The report argues that Hyundai is looking to take advantage of the relatively higher valuations in India. It said "From Hyundai's perspective it's a no-brainer as their stock in S.Korea trades at a measly 5x P/E" Hyundai Motor Group, which includes both Hyundai and Kia, is the third-largest automaker globally, having sold 7.3 million vehicles in 2023. While Hyundai Motors India does not have a stake in Kia Motors India, the parent company owns a controlling 34 per cent stake in Kia Motors globally and fully owns Genesis Motors, a luxury brand in South Korea.

Hyundai IPO might not be a great deal for Indian investors: Report

New Delhi, Automaker Kia India on Thursday said it will increase prices of Seltos and Carens by up to 2 per cent from October 1, according to a senior company official. However, the company will not hike the prices of its entry-level model Sonet. "We are looking to take about a 2 per cent price increase on Seltos and Carens from October 1," Kia India National Head (Sales and Marketing) Hardeep S Brar told PTI. The company had last hiked prices in April this year as it upgraded its portfolio to conform to Real Driving Emission (RDE) norms, he said. "While many of the companies have already taken the price increase post-April, we, however, did not take...besides the raw material prices are going up.. and we introduced the new Seltos and a lot of investment has gone into the product..so we think it is time that we take the price increase," Brar said. Kia India also sells an electric model EV6 in the country.

Kia India to hike Seltos, Carens prices by up to 2% from Oct

<ul class="summary-list"><li>Automakers and their suppliers have invested hundreds of billions of dollars in EVs.</li><li>Demand for EVs has slowed over the past year while consumer interest in hybrids has soared.</li></ul>In recent years, global automakers and their suppliers have invested hundreds of billions of dollars in <a target="_blank" href="https://www.businessinsider.com/chevrolet-new-electric-models-equinox-silverado-ev-not-enough-2024-6">developing new electric vehicles</a> and the infrastructure to build and support them.However, even as the automotive industry marches toward the inevitable point of full electrification,<a target="_blank" href="https://www.businessinsider.com/electric-vehicle-misconceptions-about-the-ev-transition-market-sales-2024-5"> demand for EVs has slowed </a>over the past year while <a target="_blank" href="https://www.businessinsider.com/tesla-challenges-amid-hybrid-craze-ford-gm-gas-profits-2024-4">interest in hybrids has soared.</a>Hybrids, with their excellent efficiency and lower cost, offer consumers a range-anxiety-free alternative to help bridge the gap between internal combustion and EVs, Steve Kosowski, the manager for Long Range Planning and Strategy at Kia Motors America, told Business Insider in a recent interview.While EV sales <a target="_blank" href="https://www.coxautoinc.com/market-insights/q1-2024-ev-sales/#:~:text=In%20the%20first%20quarter%20of,growth%20rate%20has%20slowed%20notably.">fell in the first quarter</a> of 2024 by more than 15% compared to the previous three months — their first drop since 2020 — <a target="_blank" href="https://www.strategyand.pwc.com/de/en/industries/automotive/electric-vehicle-sales-review-2024-q1.html">hybrid sales are booming. </a>Traditional hybrids, with lower price points and limited all-electric range, saw a 45.7% sales uptick from January to March, while plug-ins, which are pricier but can go upwards of 60 miles on batteries, grew a whopping 69.7%, according to figures from <a target="_blank" href="https://www.strategyand.pwc.com/de/en/industries/automotive/electric-vehicle-sales-review-2024-q1.html">PWC</a>.<div type="image" title="A Kia EV3 GT-Line compact electric SUV is parked in front of a building." height="3227" width="5736" msid="110920053" hostid="261" sizebytes="1753006"></div>As a result, some automakers have <a target="_blank" href="https://www.businessinsider.com/mercedes-benz-ev-2030-electric-car-market-trends-2024-2">postponed their plans</a> to abandon internal combustion engines completely.This development would seemingly threaten Kia, which has launched about half a dozen new BEVs in recent years, including the stylish <a target="_blank" href="https://www.businessinsider.com/kia-ev3-details-range-photos-interior-2024-5">EV3 SUV this May</a>.But Kia sees hybrids as an opportunity to get potential BEV buyers in the door."If you look at resistance in the market to buying an EV, number one is price and then it's<a target="_blank" href="https://www.businessinsider.com/electric-vehicle-range-ev-charging-station-infrastructure-issues-2024-5"> range and (charging) infrastructure</a>, " Kosowski said. "But if you look at hybrids and PHEVs, the resistance because of price is much much lower.""The last time I looked, transaction prices for EVs and plug-in hybrids were in the same area, which signals to me that consumers want to electrify and are willing to pay for it," he added."With range anxiety a non-issue, hybrids, especially those of the plug-in variety, allow people who are hesitant to fully electrify a way to ease into it.<div type="image" title="A blue 2024 Kia Niro PHEV drives down the road" height="4128" width="6192" msid="110920055" hostid="261" sizebytes="498922"></div>Hybrids accounted for about 8.4% of the total market during the first quarter of 2024.But if you look at the largest and arguably most important segment these days, compact SUVs, hybrids account for nearly one-fifth of sales, Kosowski said.This places added importance on the need to have hybrid options available for sale.Fortunately for Kia, the company hedged its strategy and has no fewer than half a dozen hybrids and PHEVs currently on sale in the US, including the <a target="_blank" href="https://www.businessinsider.com/kia-niro-hybrid-is-a-great-car-to-buy-2017-11">Niro Hybrid</a> and Sportage PHEV compact SUVs."As an automaker, you take a step back from this, and you go, it makes so much more sense to proliferate hybrids within your lineup," he said.For Kia, building hybrids instead of EVs affects its bottom line beyond the revenue it generates. EVs cost substantially more to build than ICE and hybrid vehicles.<div type="image" title="A gray 2025 Kia Carnival Hybrid minivan parked in front of lake." height="3645" width="5467" msid="110920054" hostid="261" sizebytes="2124722"></div>According to Kosowski, who has spent the past two decades with Kia, the material cost of a typical ICE car is half of the sticker price. The cost of materials to build an EV is 50% more than that."This is the 800-pound gorilla in the room for the industry," he added. "The thing about EVs is their material cost is so high that the margin for everybody gets squeezed until it becomes negative."The popularity is a surprising turn of events from hybrids. Until recentlythey were maligned by consumers for being substantially more expensive and complex than a fully ICE vehicle and by environmentalists for not being as eco-friendly as a full BEV.However, hybrids' day in the sun is likely to be temporary due to increasingly<a target="_blank" href="https://www.businessinsider.com/insider-energy-bidens-secret-weapon-3-big-clean-tech-deals-2020-11"> stringent environmental regulations.</a>"EV sales can only go up. These cars are coming because every automaker has to sell in order to meet <a target="_blank" href="https://afdc.energy.gov/laws/4249">zero-emissions vehicle production (ZEV) regulations</a>, and greenhouse has rules," Kosowski said.

Kia says hybrids aren't a threat to EVs but are the perfect gateway to electrification 

<keyword id="434999" type="General" weightage="50" keywordseo="hyundai-motor-group" source="Orion">Hyundai Motor Group</keyword> said on Monday it will utilise 7.8 trillion won ($5.9 billion) worth of reservation money held by its overseas operations to push forward the group's planned investments in domestic electric vehicle (EV) plants. <keyword id="70910" type="General" weightage="80" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword>, its smaller affiliate <keyword id="6372046" type="General" weightage="80" keywordseo="kia" source="Orion">Kia</keyword> and auto parts maker <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Mobis will receive $2.1 billion, $3.3 billion and $200 million, respectively, from their operations in the US and Europe in the form of dividends, the group said in a statement. Hyundai Motor said it will also receive dividends from its Indian operations, reports Yonhap news agency. "The dividends from their overseas operations will help the three companies cut back on bank loans, which will enhance their financial status and will allow them to make an aggressive investment (in EV plants)," the statement said. The group's overseas operations, including Hyundai Motor America, Hyundai Motor India, <keyword id="17681423" type="General" weightage="50" keywordseo="hyundai-motor-manufacturing-czech" source="Orion">Hyundai Motor Manufacturing Czech</keyword>, Kia America, Kia Europe and Kia Slovakia SRO, posted improved earnings results in the 2021-2022 period despite the COVID-19 pandemic. Hyundai Motor plans to complete a 150,000-unit-a-year EV plant in its main Ulsan plant, 299 kilometers southeast of Seoul, by 2025. In April, Kia began the construction of a 150,000-unit-a-year EV plant inside its existing factory in Hwaseong, just south of Seoul, with a goal to start production in late 2025. In the same month, the Korean automotive group announced it will invest 24 trillion won in its domestic EV plants and other EV projects by 2030. The three affiliates will collectively make the investment to help the group become the world's No. 3 EV maker in terms of sales by 2030. The companies plan to spend most of the planned investments in expanding their existing EV production lines, developing future mobility parts and technologies, establishing EV infrastructure and exploring new EV business opportunities. Hyundai Motor and Kia plan to release a total of 31 battery-powered EV models by 2030, including the Kia EV9 this month and the Hyundai IONIQ 7 next year. Hyundai Motor and Kia have set a combined sales goal of 7.52 million units this year, up 9.8 percent from the 6.85 million units they sold last year. The two together form the world's third-largest carmaker by sales after Toyota Motor Corp. and Volkswagen Group. On top of the domestic EV plants, the group is building a 300,000-unit-a-year EV and battery plant in the U.S. state of Georgia, with a goal to start production in the first half of 2025. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/markets/news/stock-markets-snap-two-day-falling-streak-it-oil-shares-advance/articleshow/100937567.cms">Stock markets snap two-day falling streak; IT, oil shares advance</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/with-international-travel-on-the-rise-indian-aviation-regulator-eases-norms-for-carriers/articleshow/100937433.cms">With international travel on the rise, Indian aviation regulator eases norms for carriers</a>

Hyundai to utilise $5.9 billion in overseas operations' money for EV investments

<keyword id="20034542" type="General" weightage="50" keywordseo="kia-india" source="keywords">Kia India</keyword> on Tuesday said it has appointed <keyword id="20034541" type="General" weightage="50" keywordseo="gwanggu-lee" source="keywords">Gwanggu Lee</keyword> as the new Managing Director and CEO with immediate effect. Lee succeeds Tae Jin Park, who retires after a 36-year journey with <keyword id="19997865" type="General" weightage="100" keywordseo="kia" source="keywords">Kia</keyword> Corporation including a four year stint with Kia India, the automaker said in a statement. Lee has held leadership positions in various capacities in both developed and developing economies, including roles in the US, Canada, Italy, Mexico, Kia Headquarters in Central and South America, and Kia Europe Headquarters in Germany. His recent role as President at Kia Mexico played a pivotal role in the company's substantial growth and establishment as a production and export hub, the company said. With two segment-breaking updates -- the new Seltos and the new Sonet, and a host of more innovative products on the way, Kia India is surely on the right path to sustainable business growth, Lee stated. "My vision is to unlock the next phase of growth through inspiring Kia brand experiences thereby creating more value and long-lasting impact for our customers, partners, and employees alike," he added. Kia currently sells five models, including Seltos, Sonet and Carens, in the Indian market. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/new-creta-to-punch-ev-cars-hitting-indian-market-in-january-2024/slidelist/106479554.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/new-creta-to-punch-ev-cars-hitting-indian-market-in-january-2024/slidelist/106479554.cms" target="_blank">New Creta to Punch EV – Cars hitting Indian market in January 2024</a><a href="https://www.businessinsider.in/business/auto/news/tata-motors-hyundai-sales-rise-maruti-suzuki-reports-a-decline-in-december-2023/articleshow/106474205.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-hyundai-sales-rise-maruti-suzuki-reports-a-decline-in-december-2023/articleshow/106474205.cms" target="_blank">Mixed December – While Tata Motors, Hyundai sales rise, Maruti Suzuki reports in the slow lane</a> <a href="https://www.businessinsider.in/tech/mobile/news/iqoo-12-vs-oneplus-11-vs-samsung-galaxy-s23-the-battle-of-the-affordable-flagships/articleshow/106200031.cms">iQOO 12 vs OnePlus 11 vs Samsung Galaxy S23 – the battle of the affordable flagships</a>

Kia India names Gwanggu Lee as new MD, CEO

<ul><li>Japanese car maker <keyword id="20630" type="General" weightage="100" keywordseo="honda" source="Orion">Honda</keyword> on Friday said it is planning to increase prices of its entire model range by up to ₹30,000 from January.</li><li>The increment will be in the range of up to ₹30,000 and vary from model to model, Honda Cars India Vice President (Sales and Marketing) Kunal Behl told PTI.</li><li>Earlier, <keyword id="44883" type="General" weightage="80" keywordseo="maruti-suzuki" source="Orion">Maruti Suzuki</keyword>, <keyword id="596" type="General" weightage="50" keywordseo="hyundai" source="Orion">Hyundai</keyword>, <keyword id="42747" type="General" weightage="50" keywordseo="tata-motors" source="Orion">Tata Motors</keyword>, Mercedes-Benz, Audi, <keyword id="43777" type="General" weightage="50" keywordseo="renault" source="Orion">Renault</keyword>, <keyword id="4151067" type="General" weightage="50" keywordseo="kia-india" source="Orion">Kia India</keyword> and <keyword id="5287148" type="General" weightage="50" keywordseo="mg-motor" source="Orion">MG Motor</keyword> have also made the year-end announcements to hike prices from the next month.</li></ul>Japanese car maker Honda on Friday said it is planning to increase prices of its entire model range by up to ₹30,000 from January to partially offset the impact of rising input costs and prepare products in compliance with upcoming stricter emission norms. The company, which is present in the country through a wholly-owned subsidiary, joins the likes of market leader Maruti Suzuki, Hyundai, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor, who have also made the year-end announcements to hike prices from the next month. "After assessing the consistent increase in the input cost of raw materials and upcoming regulatory requirements, we will have to undergo a price revision for our products from January 23. The increment will be in the range of up to ₹30,000 and vary from model to model," Honda Cars India Vice President (Sales and Marketing) Kunal Behl told PTI. As per the second phase of BS-VI emission regulations, to be effective from April 2023, vehicles will need to have an onboard self-diagnostic device to monitor the real-time driving emission levels. The device will constantly monitor key parts for meeting emission standards, such as catalytic converter and oxygen sensors, to keep a close watch on emissions. Additionally, in order to control the level of fuel burnt, the vehicles will also carry programmed fuel injectors, which would control the timing and amount of fuel injected into the petrol engine. Even the semiconductors used by the vehicle will have to be upgraded to monitor throttle, crankshaft positions, air intake pressure, the temperature of the engine and the content of the emissions from the exhaust (particulate matter, nitrogen oxide, CO2, Sulphur), etc. PTI MSS BAL BAL SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/upcoming-twitter-new-features-in-2023/articleshow/96195337.cms" data-type="tilCustomLink">From Twitter Blue checkmark to videos, a look at the new Twitter features Musk may introduce in 2023</a> <a href="https://www.businessinsider.in/tech/apps/news/best-ai-powered-apps-and-websites-that-will-increase-your-work-experience/articleshow/96051415.cms" data-type="tilCustomLink">Here are some free AI-powered apps and tools to try right now</a>

Honda to hike vehicle prices by up to ₹30,000 from Jan

<keyword id="12452024" type="General" weightage="50" keywordseo="automaker-kia" source="Orion">Automaker Kia</keyword> said on Friday that its second-quarter net profit jumped 40 per cent from a year earlier on an improved product mix and a weak won. Net profit for the three months ended in June rose to 1.88 trillion won ($1.43 billion) from 1.34 trillion won in the same period of last year, the company said in a statement. The second-quarter bottom line was buoyed by increased sales of high-end SUV models, decreased incentives and the won's weakness against the dollar, reports <keyword id="1248424" type="General" weightage="50" keywordseo="yonhap-news-agency" source="Orion">Yonhap news agency</keyword>. Such factors helped offset the carmaker's production losses derived from a prolonged chip shortage and disruptions of parts supplies, <keyword id="6372046" type="General" weightage="100" keywordseo="kia" source="Orion">Kia</keyword> said. Operating profit also soared 50 percent to 2.23 trillion won in the second quarter from 1.48 trillion won a year ago. Sales were up 19 percent to 21.87 trillion won from 18.34 trillion won. From January to June, net profit climbed 23 per cent to 2.91 trillion won from 2.38 trillion won a year earlier. Operating profit jumped 50 per cent to 3.84 trillion won from 2.56 trillion won during the same period. Sales gained 15 per cent to 40.23 trillion won from 34.92 trillion won. Kia's parent company <keyword id="434999" type="General" weightage="50" keywordseo="hyundai-motor-group" source="Orion">Hyundai Motor Group</keyword> earlier said that its second-quarter net profit jumped 56 per cent from a year earlier on improved product mix and a weak won. Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same period of last year. In the six-month period, <keyword id="596" type="General" weightage="50" keywordseo="hyundai" source="Orion">Hyundai</keyword> sold a total of 1.88 million vehicles, achieving 43 per cent of its sales target of 4.34 million units for the year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/iran-is-working-towards-gradually-eliminating-dollar-trade-with-russia/articleshow/93042335.cms">Iran is working towards gradually eliminating dollar trade with Russia</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/air-indias-cochin-flight-diverted-to-mumbai-after-pressure-loss/articleshow/93042126.cms">Air India's Cochin flight diverted to Mumbai after pressure loss</a>

Kia reports 40% jump in Q2 profit by an increase in high-end SUV sales and decreased incentives

<keyword id="70910" type="General" weightage="50" keywordseo="hyundai-motor" source="Orion">Hyundai Motor</keyword>, South Korea's biggest carmaker, said on Friday that its sales fell 4.5 per cent in June from a year earlier, as a global chip shortage continued to affect its vehicle production and sales. <keyword id="596" type="General" weightage="100" keywordseo="hyundai" source="Orion">Hyundai</keyword> Motor sold a total of 340,534 vehicles in June, down from 356,631 units a year earlier, the company said in a statement. Domestic sales fell 13 percent to 59,510 units from 68,407 during the period, while overseas sales declined 2.5 percent to 281,024 from 288,224, reports <keyword id="1248424" type="General" weightage="50" keywordseo="yonhap-news-agency" source="Orion">Yonhap news agency</keyword>. From January to June, sales dropped 7.6 per cent to 1,877,193 autos from 2,031,185 units during the same period of last year. Hyundai has set a sales goal of 4.32 million units for this year, higher than the 3.89 million sold last year. Hyundai said on Thursday it is setting up a new investment affiliate in the US, in a follow-up to its pledge to invest $10.5 billion in the world's largest economy. The new affiliate, tentatively named HMG Global, will be established in Delaware state in the US and funded by Hyundai's three flagship arms -- Hyundai Motor, <keyword id="6372046" type="General" weightage="50" keywordseo="kia" source="Orion">Kia</keyword> and Hyundai <keyword id="1384468" type="General" weightage="50" keywordseo="mobis" source="Orion">Mobis</keyword>, according to regulatory filings posted by the companies. Hyundai Motor and its smaller affiliate Kia will together inject a combined $578 million in the new American unit. The new US affiliate is expected to be launched around August following regulatory approval. The move came as a follow-up to Hyundai's announcement in late May it will spend $5.5 billion to build electric vehicle and battery cell plants in Georgia. SEE ALSO <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/audi-gets-back-some-of-its-lost-shine-with-evs-gears-up-for-launch/articleshow/92594129.cms" style="">Audi gets back some of its lost shine with EVs, gears up for launch</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/lack-of-basic-safety-systems-behind-electric-two-wheelers-fires-says-government-probe-panel/articleshow/92536832.cms" style="">Lack of basic safety systems behind electric two-wheelers fires, says government probe panel</a>

You Searched For "kia motors" and got 11 results

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Kia India to hike Seltos, Carens prices by up to 2% from Oct

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Kia says hybrids aren't a threat to EVs but are the perfect gateway to electrification

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Hyundai to utilise $5.9 billion in overseas operations' money for EV investments

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Kia India names Gwanggu Lee as new MD, CEO

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Honda to hike vehicle prices by up to ₹30,000 from Jan

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Kia reports 40% jump in Q2 profit by an increase in high-end SUV sales and decreased incentives

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Hyundai feels the pinch of chip shortage, global sales fall 4.5%

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