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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

<div class="KonaFilter image-container"><div class="image"></div></div>
SEOUL (Reuters) - Hyundai Motor Co and its two affiliates approved Asia's biggest property deal since the financial crisis on Friday when their board members agreed to pay 10.55 trillion won ($10.12 billion) for a trophy plot of land to house a new headquarters in downtown Seoul.
The 854,030 square foot piece of land is in the capital's high-end Gangnam district. 
The Hyundai-led group, which includes Kia Motors Corp and Hyundai Mobis, plans to ink the deal with the state-run Korea Electric Power Corp later on Friday.
About 11.6 trillion Korean won ($11.11 billion) have been wiped of the market values of the companies since the purchase was announced last week.
Labor union employees, who make up the bulk of the companies' workforce, voted on Friday to extend a strike into next week in show of disapproval of the purchase which will be used to house a new headquarters, hotel and theme park complex.
"Building an integrated control tower will enhance work efficiency and brand value," Hyundai Motor said in its regulatory filing on Friday.
Shares of Hyundai Motor ended down 1.3 percent at 187,000 won each on Friday, their lowest level in 17 months. Kia Motors slipped 0.8 percent, and Hyundai Mobis was up 0.6 percent.
The $10 billion price-tag is equivalent to selling nearly half a million of Hyundai's flagship Sonata sedans, and nearly two years of combined wages for Hyundai's 63,099 employees in Korea, according to Reuters' calculation.
Hyundai Motor will pay 55 percent of the price, followed by Hyundai Mobis Co Ltd with 25 percent and Kia Motors Corp with 20 percent, the companies said. They did not disclose whether the board approval was unanimous.
The boards of the three companies had approved bidding at the Sept. 18 auction without knowing the price, which was deemed confidential, four board members told Reuters earlier.
Board disapproval is rare at Korea's family-owned conglomerates, or chaebols.
<h3>WORKERS EXTEND STRIKE</h3>
The land deal led to the domestic unions of Hyundai Motor and Kia Motors resuming partial strikes this week, clouding the outlook for annual wage talks.
Workers "are angered by the astronomical amount of money" to be spent on the land, Kia's union said.
Hyundai Motor's labor union said on Friday it would stage a partial strike from Monday through Thursday next week.
Hyundai, the world's fifth-biggest automaker along with its affiliate Kia, has been hit by strikes in all but four years of the union's 27-year history, although they usually make up losses with extra work later that year.
The stoppages comes as Hyundai and Kia are planning to build new factories in China and Mexico, closer to export markets and where wages are lower than in South Korea.
Recurring labor disputes, high wages at home and strong currency are expected to put further pressure on the automaker to accelerate overseas production. Hyundai made 62 percent of its cars last year overseas, up from 20 percent in 2004.
Since annual wage talks began in early June, Hyundai Motor and union negotiators have wrangled over a new wage calculation, which the company says would sharply increase labor costs.
Hyundai's domestic employees, excluding executives, earn an average 94 million won ($90,419) per year.
(Reporting by Hyunjoo Jin; Editing by Jeremy Laurence)

Hyundai-Led Group Will Pay $10 Billion For This Plot Of Land In Seoul

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

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div></div></div>In his 2005 hit "<a href="https://www.youtube.com/watch?v=6vwNcNOTVzY" target="_blank">Gold Digger</a>," Kanye West raps the lines," You see him on TV any given Sunday, Win the Super Bowl and drive off in a Hyundai."10 years later, the NFL and Hyundai could be near a deal that would make those lyrics come true, <a href="http://www.bloomberg.com/news/articles/2015-06-22/nfl-said-close-to-sponsorship-deal-with-hyundai-replacing-gm" target="_blank">Bloomberg reports</a>.Two people close to the matter told <a href="http://www.bloomberg.com/news/articles/2015-06-22/nfl-said-close-to-sponsorship-deal-with-hyundai-replacing-gm" target="_blank">Bloomberg's Scott Shoshnick and Jamie Butters</a> that Hyundai Motor Company is close to signing a sponsorship agreement with the NFL.With the deal, Hyundai would become the league's automotive sponsor and supplant General Motors, which ended its association with the NFL this past season.This is would also mean that instead of winning the Super Bowl and driving off in a Corvette or an Escalade, the game's MVP could take home a Hyundai Sonata or a Genesis.Thus making Kanye West truly prophetic in his songwriting. In addition to the NFL, Hyundai Motors' Kia subsidiary is already an official sponsor of the NBA - with its cars featured prominently in ads starring the league's stars such as LeBron James and Blake Griffin.A spokesperson for Hyundai had no comment on the matter. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/new-air-force-one-tour-boeing-private-jet-2015-5">Take a tour of the $367 million jet that will soon be called Air Force One</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="4zNWQ2dTq0SJxfj9SagVkmMxd7YoUovg" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

The NFL could be about to make a Kanye West lyric come true

<ul><li><keyword id="103788" type="General" weightage="50" keywordseo="hyundai-motor-india-ltd" source="Orion">Hyundai Motor India Ltd</keyword> is considering acquiring land and building and some assets of <keyword id="44666" type="General" weightage="50" keywordseo="general-motors-india" source="Orion">General Motors India</keyword>'s Talegaon plant in Maharashtra.</li><li><keyword id="108829" type="General" weightage="80" keywordseo="hyundai-motor-india" source="Orion">Hyundai Motor India</keyword> has earlier announced its plans to get into electric vehicle manufacturing.</li></ul>Chennai, The Hyundai Motor <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> Ltd with a view to have a second automobile plant in India is considering to acquire land and building and some assets of General Motors India's Talegaon plant in Maharashtra. According to Hyundai Motor India, a Term Sheet has been signed for the potential acquisition of identified assets of the plant like land and building, certain machinery and equipment situated at the General Motors India's plant in Talegaon. The Hyundai Motor India said the proposed acquisition is subject to the signing of the 'Definitive Asset Purchase Agreement' and fulfillment of conditions precedent and receipt of regulatory approvals from relevant Government Authorities and all the stakeholders related to the acquisition. The Indian subsidiary of the South Korea's Hyundai Motors has a big manufacturing facility in Irrungattukottai near here. The Hyundai Motor India has earlier announced its plans to get into electric vehicle manufacturing. Further another facility outside <keyword id="20154" type="General" weightage="50" keywordseo="tamil-nadu" source="Orion">Tamil Nadu</keyword> is a sort of derisking strategy and also being closer to other markets in the country. It should be noted Ford Motor Company had shuttered its Chennai plant operations sometime back. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-you-can-open-the-ai-chatbot-directly-from-macs-menu-bar/articleshow/98449632.cms#:~:text=Once%20you%20have%20downloaded%20the,simply%20click%20on%20'Open.'">ChatGPT just got more accessible: Here’s how you can open the AI Chatbot directly from Mac's menu bar</a> <a href="https://www.businessinsider.in/science/health/news/tally-health-unveils-innovative-platform-to-enhance-longevity-in-humans/articleshow/98387387.cms">This US-based startup claims to have cracked the process of reverse aging</a>

Hyundai Motor considering buying GM India's Talegaon plant assets

<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

<ul><li>Shares of <keyword id="42747" type="General" weightage="20" keywordseo="tata-motors" source="Orion">Tata Motors</keyword> surged almost 4% on Monday as the automaker has now become the second largest car seller in India.</li><li>Tata Motors has surpassed <keyword id="596" type="General" weightage="20" keywordseo="hyundai" source="Orion">Hyundai</keyword> in terms of sales growth in December.</li><li>It is also the highest ever monthly sales for the Mumbai-based car manufacturer in December 2021.</li></ul>Tata Motors’ shares are on a high on the first day of trading this year, with its share price rising as much as 4% on excitement of the company achieving the tag of the ‘second largest car maker in the country’ beating Hyundai. The Mumbai-based company has surpassed Hyundai, who was the second largest auto seller until now, in terms of car sales in December. With the likes of Nexon, Tiago, Tigor and Harrier and several others, the automaker has recorded the highest ever monthly sales in December. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Car manufacturers </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Domestic December sales 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year-on-Year % change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,53,149 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors (PV) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35,299 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyundai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,312 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-32% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mahindra &amp; Mahindra (CV + PV + 3-wheeler) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">36,140 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Toyota </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10,832 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honda </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,973 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kia </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,797 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-34% </td></tr></tbody><tbody></tbody></table>Note: CVs are commercial vehicles and PVs are passenger vehicles. However, the South Korean car maker Hyundai is still ahead of Tata Motors if we add the sales of both Hyundai and <keyword id="6372046" type="General" weightage="20" keywordseo="kia" source="Orion">Kia</keyword>, which is also owned by Hyundai. The car maker managed to sell a higher number of cars despite witnessing a shortfall in production due to the ongoing semiconductor crisis. “The ever-increasing demand for Nexon EV and Tigor EV as well as progressive revival of the EV [electric vehicles] fleet segment were instrumental in driving this steep growth,” said Shailesh Chandra, president of passenger vehicles business unit at Tata Motors in an exchange filing. <div type="image" title="tata motor" height="900" width="1200" msid="88660301" hostid="261"></div>Good demand on the newly launched Tata Punch also helped the company boost its overall sales. “The overwhelming market response to Tata Punch launched in October 2021 is further boosting demand for the company’s “New Forever” range of cars and SUVs [sports utility vehicles],” added Chandra. Not to forget, the company’s booming electric vehicle business, which is adding to the excitement around electric cars. The company recorded a new sales peak of 5,592 units of electric vehicles in the third quarter of FY22, which is a growth of 345% year-on-year. However, the excitement around the rising sales may not remain long as the company admits it is cautious as the semiconductor shortage continues along with rising covid cases. “Going forward, we expect the situation to remain fluid as the semiconductor shortage continues, instances of COVID begin to rise and underlying demand continues to remain under pressure,” said Girish Wagh, executive director at Tata Motors in an exchange filing. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/mamaearths-revenue-neared-500-crore-by-selling-its-personal-care-products-in-fy2021/articleshow/88658722.cms">Mamaearth says it has turned profitable as revenue neared ₹500 crore last year</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-maruti-suzuki-future-retail-and-other-hot-stocks-on-the-first-trading-day-of-2022/slidelist/88657164.cms">Tata Motors, Maruti Suzuki, Future Retail and other hot stocks on the first trading day of 2022</a>

Tata Motors’ stock at nearly two-month high after selling more cars than Hyundai in December

<ul><li>A crowd favourite, the <keyword id="308405" type="COMPANY" weightage="20" keywordseo="Hyundai-Santro">Hyundai Santro</keyword>, is making its comeback in the Indian automobile market today with pre-bookings going live.</li><li>The car will be priced aggressively to take on the likes of the <keyword id="3252269" type="PERSON" weightage="20" keywordseo="Tata-Tiago">Tata Tiago</keyword> and the <keyword id="2041216" type="PERSON" weightage="20" keywordseo="Maruti-Suzuki-Celerio">Maruti Suzuki Celerio</keyword>. </li><li>With the booking amount currently ₹111,000, the starting price of the car is expected to be around ₹400,000.</li></ul>After being out of production for three years, Hyundai has <a href="http://www.hyundai.com/in/en/MediaCenter/PressReleases/DF_IN_LOCALNEWSVIEW_20181009.html?selx2=">announced</a> that the Santro is making its comeback today as pre-booking open before its official launch on 23 October. It will have both, an automatic and a manual option, along with different models for petrol and CNG. In fact, the AMT gearbox will be making its debut in <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> in Santro’s Magna and Sportz variants but unfortunately, won’t be an option if you opt for on any of the Asta or CNG variants. It’s actually going to be a pretty high tech for a budget car with a 7.0-inch touchscreen infotainment system built in featuring Android Auto as well as Apple CarPlay, a reverse camera, defogger and segment-first rear AC vents. Facing its competitors When the Hyundai Santro launched back in 1998, it was able to take on the Tata Indica, Daewoo Matiz and Maruti Suzuki WagonR. But in today’s market, the <keyword id="43820" type="PERSON" weightage="20" keywordseo="Hatchback">hatchback</keyword> will be facing off against the likes of the Maruti Suzuki Celerio and the Tata Tiago. While the Tata Tiago is the only car in the segment that offers a diesel option and is the most fuel efficient, the Santro wins out over both in terms of bells-and-whistles. That isn’t all that surprising, since Hyundai is known to offer top of the line features. That being said, it should concern Hyundai that one of Santro’s unique selling points in the past was how compact the car was. If not a little too compact, at times. While the Santro may ‘look’ smaller than its counterparts with respect to its length, but it’s at par, if not in excess, when it comes to width and height. It’s no secret that Hyundai has plans of pricing the car quite aggressively to capitalise on India’s budget consumers, and it’s currently speculated that prices will start at around ₹400,000 with the down payment currently on the site coming to ₹111,000.

Hyundai Santro ready to make a come-back on Indian roads

<ul class="summary-list"><li>A trend of breaking into Kia and Hyundai cars began on TikTok last year, spurring an explosion of theft in recent months.</li><li>Now Hyundai, the parent company of Kia Motors, is giving away steering wheel locks to drivers. </li></ul>Hyundai and Kia are offering free steering wheel locks for drivers, as a trend of stealing the cars continues in cities across the US. <a href="https://www.insider.com/tiktok-kia-challenge-using-usb-cables-to-steal-cars-2022-7">Thefts of older car models</a> that lack electronic security features have been on the rise, thanks to the emergence of viral TikTok videos that show how to steal the vehicles and document the burglaries. In an effort to prevent future thefts, Hyundai — which is also the parent company of Kia Motors — is giving out steering wheel locks and urging software updates, <a href="https://www.bloomberg.com/news/articles/2023-03-31/hyundai-offers-free-steering-locks-to-combat-tiktok-thefts#xj4y7vzkg" target="_blank" rel="noopener">Bloomberg reported</a>. "Hyundai Motor America is committed to ensuring the quality and integrity of our products," a Hyundai spokesperson told Bloomberg. According to Bloomberg, certain models of Hyundai and Kia cars lack an engine immobilizer, an electronic security feature that prevents a car from starting without a key. Thieves have been able to break into certain Kia and Hyundai models en masse, using USBs to start the car. After the trend first took hold over the summer, Hyundai began reimbursing car owners for purchases of steering wheel locks, as well as providing locks to police departments to give away across the country, according to Bloomberg. So far this year, more than 100 people have been under suspicion of stealing Hyundai and Kia cars in New York alone, according to Bloomberg. Hyundai's software updates and steering wheel lock giveaways come after 20 US state attorneys called on the company to enhance anti-theft measures. In a statement to Bloomberg, Kia said it will continue to "combat this rise in car theft and the role social media has played in encouraging it."

Hyundai and Kia are giving away free steering wheel locks, as TikTok-inspired thefts continue

<ul class="summary-list"><li><keyword id="596" type="CITY" weightage="60" keywordseo="Hyundai">Hyundai</keyword> and <keyword id="6372046" type="ORGANIZATION" weightage="60" keywordseo="kia">Kia</keyword> both said Monday they were not in talks with <keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> to develop an <keyword id="1044059" type="PERSON" weightage="60" keywordseo="autonomous-vehicle">autonomous vehicle</keyword>.</li><li>Previously it was reported the automakers, part of Hyundai Motor Group, were close to signing a deal with Apple.</li><li>Bloomberg reported that talks paused after Apple was displeased that the project was no longer secret.</li></ul>Hyundai and Kia's <a href="https://www.businessinsider.com/apple-car-hyundai-kia-near-deal-electric-autonomous-vehicle-report-2021-2">autonomous car deal with Apple</a> has reportedly hit a major speed bump."Hyundai Motor is not in talks with Apple on autonomous vehicle development," Hyundai said in a filing Monday per <a href="https://www.cnbc.com/2021/02/08/hyundai-kia-shares-fall-say-not-in-talks-to-develop-apple-car.html">CNBC's</a> translation. Kia filed a similar document.Hyundai and Kia are sister companies, both coming under the umbrella of the Hyundai Motor Group.Hyundai added it was receiving "requests from multiple companies for cooperation in joint development of autonomous, electric vehicles but nothing has been decided since it's in early stage."This comes after a <a href="https://www.wsj.com/articles/kia-is-preparing-to-build-apple-cars-in-the-u-s-11612498065">Wall Street Journal</a> report on Friday that <a href="https://www.businessinsider.com/apple-car-kia-looking-georgia-partners-for-apple-car-wsj-2021-2">Kia was looking for production</a> partners to help build Apple's autonomous car in Georgia. <a href="https://www.cnbc.com/2021/02/03/apple-and-hyundai-kia-driving-towards-deal-on-apple-car.html">CNBC</a> also reported Wednesday that the companies were nearing a deal.Read more: <a href="https://www.businessinsider.com/musk-an-entrepreneur-cook-isnt-apple-car-is-going-nowhere-2021-2?r=ih-sub">Elon Musk is an entrepreneur, and Tim Cook isn't - and that's why the overhyped Apple Car is going nowhere</a>A source familiar with the matter told <a href="https://www.bloomberg.com/news/articles/2021-02-05/apple-talks-with-hyundai-kia-on-electric-car-paused-recently">Bloomberg</a> that talks between Apple, Hyundai, and Kia had been paused recently. Per Bloomberg, Apple was displeased after news of the potential partnership got out, as the company likes to keep its projects secret until it decides to announce them.Hyundai stated publicly it was in <a href="https://www.businessinsider.com/apple-and-hyundai-plan-to-collaborate-beta-car-say-reports-2021-1">early-stage talks</a> with Apple in January, though it <a href="https://www.bloomberg.com/news/articles/2021-01-08/hyundai-shares-jump-most-since-1988-after-report-on-apple-tie-up">later revised its statement</a>. Executives were reportedly <a href="https://www.businessinsider.com/apple-electric-car-hyundai-execs-wary-ev-vehicle-report-2021-1">divided over whether it was a good idea</a> to make a car for another company.Hyundai and Kia were also fighting over which company would get to build the car, causing further friction, Bloomberg's source said.Apple was not immediately available for comment when contacted by Insider.Apple has made no public announcements about its self-driving car project, which is internally known as "Project Titan." It has been in the works since 2014, and sources told Reuters in December 2020 that the iPhone maker is <a href="https://www.businessinsider.com/exclusive-apple-targets-car-production-by-2024-and-eyes-next-level-battery-technology-sources-2020-12">aiming to start producing cars in 2024</a>. Hyundai and Kia's announcements sent Hyundai's shares tumbling by 6.12% and Kia's by 15%, CNBC reported.

Apple's talks to build an autonomous car with Hyundai and Kia have reportedly been put on hold after the automakers blabbed to the press

<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>

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

<keyword id="3507190" type="COMPANY" weightage="20" keywordseo="kia-motors-india">Kia Motors India</keyword> on Wednesday said its recently-launched compact sports utility vehicle (SUV) Sonet has got 50,000 bookings. In a statement, <keyword id="109790" type="COMPANY" weightage="20" keywordseo="Kia-Motors">Kia Motors</keyword> India - a wholly owned subsidiary of <keyword id="1055815" type="COMPANY" weightage="20" keywordseo="Kia-Motors-Corporation">Kia Motors Corporation</keyword> of South Korea - said: "This record booking number affirms its status as a game-changer by customers in the highly competitive compact SUV category. This milestone figure was attained within two months of opening of bookings on August 20, 2020." Kia Motors said that last month 9,266 units of the Sonet were dispatched, making it the leader of the compact SUV segment within 12 days of its price announcement and market launch. Curiously, the announcement comes on the day when Japan's Nissan Motor Corporation world premiered its new compact sports utility vehicle (SUV) Magnite and said it would be made in India for Indian and the global market. The Magnite will soon be fighting against Sonet, Hyundai Motor's Venue and others in the Indian market. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-ioc-ongc-cipla-hindustan-zinc-prabhat-dairy-and-others/articleshow/78780036.cms" data-type="tilCustomLink">Top stocks to watch — RIL, IOC, ONGC, Cipla, Hindustan Zinc, Prabhat Dairy, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-samsung-galaxy-m51-mobile-review/articleshow/78780771.cms" data-type="tilCustomLink">Samsung Galaxy M51 review – insane battery life</a> <a href="https://www.businessinsider.in/defense/news/india-will-be-most-consequential-partner-for-us-in-indo-pacific-this-century/articleshow/78780949.cms" data-type="tilCustomLink">US Defence Secretary believes India will be the most consequential partner for US in Indo-Pacific this century</a>

Kia Sonet gets over 50,000 bookings in just 2 months

<div class="KonaFilter image-container display-table float_right click-to-enlarge"><div><div class="image on-image"><a title_source="AP" title_caption="Hyundai Motor Co. Vice Chairman Chung Euisun announces the new Genesis brand." class="zoomin" href="https://static-ssl.businessinsider.com/image/563a18ef9dd7cc19008c7114-960/ap_921105404544.jpg"></a>APHyundai Motor Co. Vice Chairman Chung Euisun announces the new Genesis brand.</div></div></div>Hyundai Motors announced this week that it will launch a global luxury car brand called Genesis.The Korean automaker made the decision in an attempt to take advantage of the higher profit margins in the luxury market and to help the company recover from weak earnings, <a href="http://www.cnbc.com/2015/11/04/hyundai-motor-launches-genesis-brand-to-tap-into-luxury-market.html" target="_blank">Reuters reported</a>.Although Hyundai's US sales rose 20% in October and 5% for the year, its global third quarter net income dropped by more than 25%, to $1.1 billion. According to<a href="http://www.cnbc.com/2015/10/22/the-associated-press-hyundai-motor-reports-lowest-earnings-in-more-than-5-years.html" target="_blank"> AP</a>, much of this can be attributed to softness in the Hyundai's China business, which has fallen sharply over the past quarter. To help run the new Genesis division, Hyundai has hired former Bentley and Lamborghini design boss Luc Donckerwolke, who will join the company early next year, Reuters reported. By 2020, the Genesis brand will consist of six models including sedan, sports cars and SUVs. The brand will begin by spinning off Hyundai's current Genesis luxury sedan. The Genesis sedan first launched in 2008, with a second generation introduced in 2013. Even while marketed as Hyundai models, the current Genesis cars carry very few of the company's logos. Instead, the cars are festooned with "Genesis" badging. Last year, Business Insider named the second generation Hyundai Genesis sedan one of the <a href="http://www.businessinsider.com/most-important-cars-of-2014-2014-12" target="_blank">most important cars of 2014</a>. The launch of the Genesis takes a page from the playbook run by Japan's large automakers more than two decades ago. Honda launched its Acura luxury brand in 1986, while Nissan and Toyota followed with their Infiniti and Lexus brands respectively in 1989. It is unclear yet when the Genesis brand will come to the US, although the company did emphasize that the brand will be a global venture. Hyundai Motors entered the US market in 1986 with the Excel compact and has since sold 10 millions car over the past 30 years. Currently, Hyundai and its Kia sibling hold roughly 8% of the US auto market. We have reached out to Hyundai for comment. <div class="KonaFilter image-container display-table"><div><div class="image on-image">Hyundai</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/mclaren-650s-spider-supercar-specs-review-test-drive-2015-7">This car drew more crowds than any other car we have driven </a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="90eGY3djqeqK3eBHfjpxe439UDlJC6og" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "Hyundai Motor company" and got 13 results

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Hyundai Santro ready to make a come-back on Indian roads

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Hyundai and Kia are giving away free steering wheel locks, as TikTok-inspired thefts continue

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Apple's talks to build an autonomous car with Hyundai and Kia have reportedly been put on hold after the automakers blabbed to the press

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

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Kia Sonet gets over 50,000 bookings in just 2 months

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