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<keyword id="6358777" type="LOCATION" weightage="20" keywordseo="New-Delhi">New Delhi</keyword>, <keyword id="6355975" type="DOMAIN" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> on Wednesday announced its <keyword id="63068" type="PERSON" weightage="20" keywordseo="partnership">partnership</keyword> with <keyword id="1377378" type="COMPANY" weightage="20" keywordseo="Hyundai-Motor-India-Limited">Hyundai Motor India Limited</keyword> (HMIL) to offer the auto retail financing solutions to its <keyword id="6359672" type="UNKNOWN" weightage="20" keywordseo="Customers">customers</keyword> through the car makers end-to-end online automotive retail platform 'Click to Buy' (<keyword id="655143" type="COMPANY" weightage="20" keywordseo="CTB">CTB</keyword>). The partnership will allow customers to view process and avail auto loan sanction directly on <keyword id="596" type="COMPANY" weightage="20" keywordseo="Hyundai">Hyundai</keyword>'s CTB platform, a company statement said. This solution provides customers with the convenience of acquiring requisite funding for their desired Hyundai car through a 'one-stop-shop' platform catering to all their vehicle purchase needs, the state team added. Speaking on the partnership, <keyword id="244004" type="PERSON" weightage="20" keywordseo="Sumit-Bali">Sumit Bali</keyword>, President &amp; Head Retail Lending &amp; Payments, Axis Bank said, "In the current pandemic situation, this initiative will ensure that customized finance products are digitally available to all customers, bringing them one step closer to owning their dream car." Since the launch of 'Click to Buy', the company has received over seven million visitors and have recorded over 47,000 registrations. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/boat-raises-over-100-million-from-warburg-pincus-analysts-expect-the-headphone-brand-to-double-its-revenue-to-10-billion-this-financial-year/articleshow/80126200.cms">boAt raises over $100 million from Warburg Pincus — analysts expect the headphone brand to double its revenue to ₹10 billion this financial year</a> <a href="https://www.businessinsider.in/tech/news/oneplus-fitness-band-india-launch-date-price-and-everything-you-need-to-know/articleshow/80129498.cms">OnePlus Band India launch date, price and everything you need to know</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-will-stop-working-if-you-do-not-agree-to-its-new-terms-and-privacy-policies/articleshow/80127866.cms">WhatsApp will stop working if you do not agree to its new terms and privacy policies</a> <a href="https://www.businessinsider.in/business/auto/news/toyota-fortuner-suv-2021-launched-in-india-with-new-price-design-and-features-check-details-here/articleshow/80129932.cms">Toyota Fortuner 2021 launched at a starting price of ₹29.98 lakh — here’s all you need to know from looks to specification and features</a>

Axis Bank joins hands with Hyundai to offer auto retail financing solutions

When South Korean car brand <keyword id="6372046" type="COMPANY" weightage="20" keywordseo="kia">Kia</keyword> launched its first SUV, <a href="https://www.carandbike.com/kia-cars/seltos" data-type="tilCustomLink">Kia Seltos</a>, in India in August 2019, it had a lot of odds stacked up against it. The sector itself was going through the worst ever sales slump across two and four wheelers. Added to that, India is predominantly a small car market, leaving a large section of buyers away from it. Yet, it looks like Kia, which set up a factory in Andhra Pradesh, seemed to have packed in what Indians want - good quality at value. By March 2020, it became the largest selling SUV, surprising even the trade pundits. Soon, it had a problem that many automakers would love to have, way too much demand which is affecting their delivery time, making them switch to two shifts. “KIA’s successful entry in India has further enabled the group to gain market share. KIA is a great example of successful badge engineering, something other original equipment manufacturers like Renault-Nissan have been unable to accomplish,” said Sumit Bali, president and head of retail lending and payment, at Axis Bank said during an Axis Capital conference. Cool and futuristic features Its attractive price point at around Rs 9.8 lakhs, Indian love for compact SUVs, and its futuristic technology, and the tiger-nose grille design was too good to pass up. The car was already BS6 compliant which would mean that buyers would not have to worry about changing regulations for a long time. Their range offers the best engine options as well. The success was replicated by all their launches after like <keyword id="8462155" type="UNKNOWN" weightage="20" keywordseo="kia-sonet">Kia Sonet</keyword> and Kia Carnival had a lot of “cool features” like voice commands, a sun roof (which is now an ultra popular feature across cars of all sizes), wireless charging and more. But <keyword id="7720018" type="UNKNOWN" weightage="20" keywordseo="kia-seltos">Kia Seltos</keyword> remains its flagship car as its market share went up to 5.14% in January 2021, even in a declining sales market. Within months of its launch, Kia Seltos outsold two of the most popular cars in the compact SUV segment - <a href="https://www.carandbike.com/hyundai-cars/creta" data-type="tilCustomLink">Hyundai Creta</a> and Maruti Brezza - during some months. But it’s not just the older models that has Seltos as its competitor. A large number of car launches are being planned in 2021-22, and they will have to displace Seltos from its throne. As per an Axis Capital report, Eyecatchers, Seltos features as a key competing model for as many as nine of the new car launches planned in the coming financial year. The automaker who might see most competition from Kia Seltos could be <keyword id="6357096" type="COMPANY" weightage="20" keywordseo="Mahindra-Mahindra">Mahindra &amp; Mahindra</keyword>, whose three launches fall in the category including a next generation version of <a href="https://www.carandbike.com/mahindra-cars/xuv500" data-type="tilCustomLink">Mahindra XUV500</a>. Kia will also be going against yet another new entrant into the Indian market - MG Motors. Two of its three new launches namely MG ZS and a six seater version of MG Hector might have to compete with Kia Seltos in addition to <keyword id="795907" type="COMPANY" weightage="20" keywordseo="Mahindra-XUV500">Mahindra XUV500</keyword> and <keyword id="2883300" type="PERSON" weightage="20" keywordseo="Hyundai-Creta">Hyundai Creta</keyword>. Here is a list of new car launches in Seltos’ sweet spot. <table style="width: 239pt; box-shadow: none; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"> </colgroup> <tbody><tr> <td style="height: 15.05pt; width: 168pt; font-size: 11pt; color: black; font-weight: 700; font-family: Calibri, sans-serif; border-width: 0.5pt 0.5pt 1pt; border-style: solid; border-color: black; overflow-wrap: break-word;">Model</td> <td style="width: 71pt; font-size: 11pt; color: black; font-weight: 700; font-family: Calibri, sans-serif; border-width: 0.5pt 0.5pt 1pt; border-style: solid; border-color: black;">Launch date</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217); overflow-wrap: break-word;">Maruti Suzuki’s unnamed large SUV</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217);">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; overflow-wrap: break-word;">Mahindra’s new TUV3OO</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black;">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217); overflow-wrap: break-word;">Mahindra’s next-gen XUV 5OO</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217);">Q1FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; overflow-wrap: break-word;">Mahindra’s XUV400</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black;">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217); overflow-wrap: break-word;">MG ZS</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217);">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; overflow-wrap: break-word;">MG Hector 6-seater</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black;">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217); overflow-wrap: break-word;">Skoda Kushaq</td> <td class="xl63" style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217);">May-21</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; overflow-wrap: break-word;">Volkswagen Taigun</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black;">FY22</td> </tr> <tr> <td style="height: 15.05pt; font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217); overflow-wrap: break-word;">Volkswagen T-ROC</td> <td style="font-size: 11pt; color: black; font-family: Calibri, sans-serif; border-width: 0.5pt; border-style: solid; border-color: black; background: rgb(217, 217, 217);">FY22</td> </tr></tbody></table>

Kia Seltos’ success will continue to haunt many new car launches

CHENNAI: Passenger vehicle sales may have shown a definite turnaround with positive growth for the third month in a row in July but month-on-month the graph is still far from positive. While most car companies, including market leaders like Maruti, <keyword id="596" type="CITY" weightage="20" keywordseo="Hyundai">Hyundai</keyword>, <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword>, M&amp;M and others, saw sales growth in July compared to the year-ago period, month-on-month, the curve is actually negative. 
 
Take Maruti, which saw its sales grow 20% in July with 101,380 units. Compared to the June tally of 112,773, however, it's month-on-month sales graph is down 10%. Excluding exports, Maruti clocked 90,093 units in July down from 100,964 units in June. Similarly Hyundai saw a 12.7% growth in domestic sales at 29,260 units this July but compared to its June 2014 tally of 33514 units, it's down 12.7%. Even Honda, which has been in top-gear form thanks to the success of its new City and Amaze sedans, showed a month-on-month dip. It clocked 15,709 units in July, up 40% year-on-year. But compared to the June tally of 16306 units, sales are down nearly 4%. Overall, the passenger vehicles industry clocked 212,904 units in June compared to an estimated 215,000 units (the entire industry data is yet to be released) in July. 
 
Automobile experts say there are several reasons for the M-o-M dip. For one, June brought the first quarter in the fiscal to a close hence vehicle manufacturers would have billed wholesale volumes aggressively to show better Q1 numbers. That would explain the spurt only in June volumes compared to both May and July. Said Pravin Shah, M&amp;M's CEO-automotive division and international operations: "June is a quarter end which means big discounts which push up volumes. Also, at that point people were hopeful there would be no monsoon deficit so sentiments were betterBesides many companies took their annual shutdown in July." 
 
There are other reasons for the June-July skew. Said Sumit Bali, executive VP, Kotak Mahindra Bank: "June numbers peaked because at that point everyone thought the excise cut would run out end of the month. The announcement about the benefits running on till year-end came in the last week of June." 
 
Critically though auto experts say the current demand growth is driving on new models alone. "The companies that are doing well are the ones with successful new products," said Bali. That roster includes the likes of Maruti, Hyundai and Honda, all of which have successful new debutantes. 
 
Despite that, there have also been production snags that have showed up in the wholesale numbers, as with Honda. Said Jnaneshwar Sen, senior VP-marketing and sales, Honda: "Partly, this is because of low base effect compared to last year. But in our case, it's due to capacity constraint. Our effective capacity is 15,000 units a month and we can stretch it or not depending on the number of working days and export demand. We are currently operating above capacity we had to cut down on the Brio and Amaze production to make way for the Mobilio. That's why we moved the City production to our new plant in Alwar. We will resume City production early September," he added.

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