By: Colin Whitbread, Friday, September 30, 2011, AutomotiveWorld.com
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21 September, 2011 Ssangyong Motor Co, part of the Mahindra & Mahindra Group, aims to expand vehicle sales and revenue by a third in 2013 by launching three new platforms and four new products.
Ssangyong Motor said in a statement that it aimed to sell 160,000 vehicles in 2013, compared with a 2011 target of 120,000 units. The SUV maker also said it targeted revenue of 4 trillion won ($3.5 billion) in 2013, from a projected 3 trillion won for this year.
Chairman Pawan Goenka and CEO Lee Yoo-il on Tuesday unveiled Ssangyong’s new vision, core values and five year business strategy in the presence of about 3,300 executives and employees. This would be achieved by developing competitive products, increasing global market share, attaining cost leadership, develop next generation technologies and maximising synergies. “The goal we have set may be challenging, but given the tenacity and determination of the Ssangyong team, I am sure we will achieve it” said Yoo-il.
In 2010, M&M acquired Ssangyong, for $464 million, giving the Indian utility vehicle maker access to advanced technologies and overseas markets. Ssangyong, the maker of Actyon and Rexton SUVs, exported 65 percent of its output last year to markets like Russia and Latin America.
M&M will concentrate on markets like China, Brazil, Western Europe, Korea and India. “We have obviously taken into account the slowdown that’s affecting Europe. If it gets worse then we will have to take a call,” said Goenka. Shares in Ssangyong Motors, which have fallen about 30 percent this year, closed up by 0.2 percent on Tuesday.
To expand its global market share, Ssangyong will strengthen its overseas sales network and advance into fast growing emerging markets. Ssangyong will commence using M&M’s existing network in South Africa by March 2012 and move to local manufacture of its vehicles in India and Egypt. Ssangyong and M&M are integrating across the value chain, especially in R&D, product development, purchasing and sales to generate economies of scale.
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21 September, 2011 Carmakers have slashed production during the festival season for the first time in a decade as rising interest rates and fuel prices have led to a pileup of unsold vehicles.
While the domestic auto industry raced to a growth of more than 30 percent during September-October last year, the expectations are muted this time round as demand is slowing down in the auto sector, reflecting and exacerbating the larger economic malaise.
Three of the largest carmakers, Maruti Suzuki, Tata Motors and Hyundai Motor have scaled down production, top component suppliers were quoted.
Departing from its usual practice of ramping up production during the festival season, the country’s leading carmaker Maruti Suzuki has cut production by 10-20 percent depending on the models. The move comes even as the company faces a major downslide in production because of the ongoing labour unrest at its Manesar plant which has led to higher inventories than the industry average of 15,000-20,000 vehicles. Tata Motors, too, has realigned its production while Hyundai India has resorted to exporting cars produced for the domestic market.
A senior Maruti Suzuki official on the condition of anonymity has been quoted that the company is open to increasing production soon if it sees an uptick in demand. “Yes, we have corrected our production because we do not want inventories to pile up. We are meeting every fortnight and we will increase production depending on the demand,” the official said.
P Balendran, vice-president, General Motors India, said carmakers generally see a growth of 20 percent or more in volumes during the festival season. However, he added, “Now, with unprecedented hike in interest rates, hike in petrol prices, high inflation, and negative market sentiments we are not expecting incremental volume of more than 5 percent during this festival season.”
Nearly 70 percent of cars are sold on credit and interest rates have soared nearly 300 basis points over the past year and a half. Petrol cars comprise a whopping 90 percent of unsold vehicles as the price gap between petrol and diesel has widened to almost Rs 25 per litre. Even as the demand for diesel cars is growing, carmakers are finding it difficult to sell petrol models despite offering attractive freebies.
It is a double whammy for Maruti Suzuki, which is facing a pile up of unsold cars even as it is being forced to keep 90,000 customers on hold for its hatchback Swift. The company’s functional Gurgaon plant is churning out mainly petrol models which are not selling while the Manesar plant, which manufactures the Swift, is in the grip of labour unrest.
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31 December, 2010 Hyundai Motor India has achieved the prestigious production milestone of 6 Lakh units, the highest since inception in a calendar year.
On the occasion, H W Park, Managing Director & CEO, HMIL, said, “Today is one of the landmark days in the history of our company. Achieving this milestone is a testament to the growing popularity of Hyundai as a brand and immense faith that our customers have placed in us. With this we gear up for next phase of growth and remain committed in bringing world class products and service to our customers.”
Hyundai offers a range of cars starting from hatchbacks such as Santro to the top end luxury SUV, Santa Fe. The South Korean company enjoys a market share of around 20% in India. Hyundai India has a total of 7 models and 47 variants. It currently exports approximately 42% of its production to around 120 countries across the globe with i10 being the largest exported model.
HMIL becomes only the second manufacturer in India to have achieved this distinction. It was also the fastest to reach the sales mark of 20 lakh (2 million) units in the domestic market in November, 2010.
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31 December, 2010 Hyundai Motor India has achieved the prestigious production milestone of 6 Lakh units, the highest since inception in a calendar year.
On the occasion, H W Park, Managing Director & CEO, HMIL, said, “Today is one of the landmark days in the history of our company. Achieving this milestone is a testament to the growing popularity of Hyundai as a brand and immense faith that our customers have placed in us. With this we gear up for next phase of growth and remain committed in bringing world class products and service to our customers.”
Hyundai offers a range of cars starting from hatchbacks such as Santro to the top end luxury SUV, Santa Fe. The South Korean company enjoys a market share of around 20% in India. Hyundai India has a total of 7 models and 47 variants. It currently exports approximately 42% of its production to around 120 countries across the globe with i10 being the largest exported model.
HMIL becomes only the second manufacturer in India to have achieved this distinction. It was also the fastest to reach the sales mark of 20 lakh (2 million) units in the domestic market in November, 2010.
Hyundai Motor India Ltd, the country’s second largest car manufacturer and the largest passenger car exporter ended the year on a high note with domestic sales growing by a healthy 23.1% while exports saw a decline of 8.5%. Cumulative growth stood at 7.8% for the year ending December, 2010.
HMIL’s total sales for December, 2010 stood at 47,228 units as against 47,217 units in December, 2009 while the cumulative sales almost remained the same. The domestic sales growth however registered a healthy growth of 17.6% over 2009 and stood at 26,168 units as compare to 22,252 units for 2009. Exports dipped by 15.6% to 21,060 units in 2010 against 24,965 units in 2009.
In calendar year 2010 (Jan
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Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, today achieved a historic milestone by reaching the production of 6 Lakh units, the highest since inception in a calendar year.
On the occasion, H. W. Park, Managing Director & CEO, HMIL, said,
View the Original article
Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, today achieved a historic milestone by reaching the production of 6 Lakh units, the highest since inception in a calendar year.
On the occasion, H. W. Park, Managing Director & CEO, HMIL, said, “Today is one of the landmark days in the history of our company. Achieving this milestone is a testament to the growing popularity of Hyundai as a brand and immense faith that our customers have placed in us. With this we gear up for next phase of growth and remain committed in bringing world class products and service to our customers. ”HMIL is the only Indian manufacturer to offer a full range starting from the compact Santro to the top end luxury SUV – Santa Fe and enjoys a market share of around 20%. HMIL sells 7 models with 47 variants in the Indian market. It currently exports approximately 42% of its production to around 120 countries across the globe with i10 being the largest exported model.HMIL started operation in 1996 and the first Santro rolled out in September, 1998. Right from the beginning HMIL has always been the trend-setter. From the record of setting up the plant in just 17 months to becoming the 2nd largest car manufacturer in just 6 months to rolling out 150,000 cars in about 25 months, Hyundai has fulfilled everybody’s expectations. In August, 2010 Hyundai Motor achieved the remarkable distinction of reaching the 30 lakh car production in a record time of less than 12 years. With this achievement, HMIL becomes only the second manufacturer in India to have achieved this distinction. It was also the fastest to reach the sales mark of 20 lakh (2 million) units in the domestic market in November, 2010.Tags : hyundai Add a comment
Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, in an initiative to provide convenient finance options for its customers, signed a Memorandum of Understanding (MoU) with Allahabad Bank, a leading public sector bank in the country.
The MoU was signed by Mr. Arvind Saxena, Director, Marketing & Sales, HMIL and Mr. Bibhas Kumar Srivastav, General Manager, Retail Banking, Allahabad Bank on behalf of their respective organizations.
Allahabad Bank, with its headquarters in Kolkata, has 2,364 branches and more than 200 ATMs across the country. It offers vast and varied services to ensure seamless banking for its customers. This strategic alliance will help both the partners to leverage their individual strengths and reach out to a wider market and make auto loans available for prospective car buyers on easier terms.
Speaking on the occasion, Mr. Arvind Saxena, Director, Marketing and Sales, HMIL, said, “We are very happy to announce this partnership with Allahabad Bank. This partnership will provide our customers with competitive rates and convenient finance options at locations where the bank has branches. As we are rapidly increasing our sales network, this tie up will further help us to reach a wider base of customers, increase penetration in tier II & III cities in terms of our products and the finance options available.”
As part of the agreement, both HMIL dealers and the bank will utilise their respective customer databases for growing their car loan business. The tie-up is extended to cover financing options by all the branches of the bank in India. Both the partners will utilize and leverage each other’s strengths to sell Hyundai vehicles along with the bank’s car loan products.
HMIL currently has a 307 strong dealer network and 627 strong service points across India, which will see further expansion in 2011.
General Motors India has reported a growth of 17.67 per cent in its November Sales. Compared to November sales last year the company managed to sell 8,376 units as against 7,118 units
According to GM India’s vice president P. Balendran, the rise was primarily driven by the favourable customer response to its sedan car Cruze, compact car Beat and hatchback Spark.
“Introduction of best-in-segment cars from the 300 series, increase in customer outreach through distribution network and our unique value proposition like Chevrolet Cashless Ownership offer are the factors that have led to impressive sales,” Balendran said.
“The sales comprised of 2,786 units of Spark, 2,547 units of Beat, and 617 units of the Chevrolet Cruze,” the company said in a statement.
Sales of other brands like Tavera stood at 1,476 units, followed by 297 units of Aveo, 291 units of Aveo U-VA, 262 units of Chevrolet Optra and 100 units of the Chevrolet Captiva.
Recently General Motors completed seven years in the Indian Car Mart and so far they have managed to sell 1,00,000 units which was rolled out on November 27th 2010.
Yamaha India has reported a sales figure of 30,310 units for November 2010. Yamaha has confirmed that they managed to sell 24,600 units in the same month last year.
“We are glad that our sales have maintained a consistent growth trend. Our premium segment bikes such as FZ series and YZF-R15 are doing very well. Our powerful commuter SZ bike and entry level YBR 125 and YBR 110 bikes also continue to grow at a brisk pace,” India Yamaha Motor CEO and MD H Suzuki said.
In the domestic market, yamaha managed to sell 22,710 units, as against 17,055 in the same month last year, up 33.15 per cent. Yamaha India did well in the export department as well. They managed 7,600 units, as against 7,545 units in the year-ago period.
Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, in an initiative to provide convenient finance options for its customers, signed a Memorandum of Understanding (MoU) with Allahabad Bank, a leading public sector bank in the country.
The MoU was signed by Mr. Arvind Saxena, Director, Marketing & Sales, HMIL and Mr. Bibhas Kumar Srivastav, General Manager, Retail Banking, Allahabad Bank on behalf of their respective organizations.
Allahabad Bank, with its headquarters in Kolkata, has 2,364 branches and more than 200 ATMs across the country. It offers vast and varied services to ensure seamless banking for its customers. This strategic alliance will help both the partners to leverage their individual strengths and reach out to a wider market and make auto loans available for prospective car buyers on easier terms.
Speaking on the occasion, Mr. Arvind Saxena, Director, Marketing and Sales, HMIL, said, “We are very happy to announce this partnership with Allahabad Bank. This partnership will provide our customers with competitive rates and convenient finance options at locations where the bank has branches. As we are rapidly increasing our sales network, this tie up will further help us to reach a wider base of customers, increase penetration in tier II & III cities in terms of our products and the finance options available.”
As part of the agreement, both HMIL dealers and the bank will utilise their respective customer databases for growing their car loan business. The tie-up is extended to cover financing options by all the branches of the bank in India. Both the partners will utilize and leverage each other’s strengths to sell Hyundai vehicles along with the bank’s car loan products.
HMIL currently has a 307 strong dealer network and 627 strong service points across India, which will see further expansion in 2011.
Reference:
Hyundai India maintains steady growth in November 2010
Hyundai Implements New Corporate Identity Standards
Hyundai receives the Gold Trophy for excellence in exports
Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, today reached a historic milestone with the sale of its vehicles reaching 20 lakh (2 million) mark in the domestic market.
On the occasion, H. W. Park, Managing Director & CEO, HMIL, said, “Today is a red-letter day for all of us at Hyundai family. We are extremely delighted to share this achievement with all our stakeholders and we believe this was possible because of our total commitment to the Indian market and the faith our customers have put in our products. Needless to say we will continue to build “Brand Hyundai” in the market here and bring in the best of products and technology.”
The first Santro rolled out in September, 1998. Right from the beginning HMIL has always been the trend-setter. From the record of setting up the plant in just 17 months to becoming the 2nd largest car manufacturer in just 6 months to rolling out 150,000 cars in about 25 months, Hyundai has fulfilled everybody’s expectations. Hyundai Motor achieved this remarkable distinction of reaching the 20 lakh car production for domestic market in a record time of about 12 years. In December, 2009, HMIL had touched the milestone of fastest production and sales of 25 lakh units (cumulative). With these achievements, HMIL becomes only the second manufacturer in India to have achieved these distinctions.
The Paris Motor Show 2010 concluded in a very happy note and we saw some of the coolest Lotus concept cars. Most of the concept cars shown at the auto show were stunningly gorgeous, and powered by some of the strongest mills, but we picked the Lotus concept cars for our article this week.
By now we are all aware that Lotus is trying to move up market, and Elite is one of their first models that would benefit from this new way of thinking. This new concept shows that the days of lightweight cars are near end, as this new model is four-doors, carries a retractable hardtop roof and weighs at 1 632.9 Kilograms.
The concept car is equipped with one of the greatest motors of our age, the 5.0-liter V8 from the Lexus IS-F. Lotus has increased the power to 611 horses and the top speed has been raised to 313.8 kilometre per hour. The car will also come with the KERS system.
We won't be seeing the Lotus Elite concept for quite some time, at least another four years in fact and it will cost around $180,000. Will this new way of thinking be advantageous or harmful for Lotus? Only time will tell.
The second one among the five concepts from Lotus is the new Elan. The new car is expected to go on sale around 2013, and the price would likely be closer to $118,500. Toyota has supplied the power to this car with a 4.0-liter V6 that puts out 450 horsepower. Just a light press of the accelerator would take you from 0-100 kmph in 3.4 seconds. The Lotus Elan has a top speed of 310 kmph. The KERS system will also be used. Inside the car, you would see plenty of carbon fiber and high-tech instruments. The steering wheel uses the same flat bottom look as in sports Audi models. The car weighs 1292.2 kilograms.
The third concept car from the Lotus was probably the most amazing one and, trusts us; this one is quite a machine. The car making company will be using an optional hybrid motor, along with the KERS system. Powering the car will be a 620 horsepower 5.0-liter V8 from - no prizes for guessing - Toyota. That power will help the car hit 60 miles per hour in just four seconds. We can expect to see the Eterne around 2014 with a price tag of $190,000.
This sure is the car that has the potential to send everyone's heart racing. The Lotus Elise concept car is powered by a turbocharged 2.0-liter four-cylinder with 320 horsepower. Transmissions include a six-speed manual or an optional automatic with paddle shifters. All that gives you the power to hit 0-100 kmph in just 4.3 seconds, amazing isn't it! This concept car is definitely not the cheap and light Elise of the past. Once the car hits the market in 2015, Lotus says that the company will also make less expensive versions. But all that comes at a much later stage. The luxury car maker will also bring in a soft-top version.
Lotus has clearly taken the effort to improve the looks and overall appeal of the car. The interior is wonderfully designed with F1-style progressive shift lights. The exterior is unique and different, but we'll have to wait for five years to see how well we like it when it finally makes it to the market.
The fifth and the last Lotus concept car shown at the Paris Motor Show is the Esprit. The car is expected to be available in the market by 2013, and will be priced around $175,000. The car features a 620 horsepower 5.0-liter V8 from the IS-F. The powerful engine will make it possible for the car to reach 0-100 kmph in just about 3.5 seconds. The Lotus Esprit can reach a top speed of The Lotus Esprit also features KERS, the Formula 1-style brake energy recuperation system, which will be available as an option. Much like its predecessors, this Esprit is primarily a two-seater and will feature a premium interior. A major challenge for Lotus will be meeting the standards of fit, finish and durability expected in this class today.
General Motors India has reported a growth of 17.67 per cent in its November Sales. Compared to November sales last year the company managed to sell 8,376 units as against 7,118 units
According to GM India’s vice president P. Balendran, the rise was primarily driven by the favourable customer response to its sedan car Cruze, compact car Beat and hatchback Spark.
“Introduction of best-in-segment cars from the 300 series, increase in customer outreach through distribution network and our unique value proposition like Chevrolet Cashless Ownership offer are the factors that have led to impressive sales,” Balendran said.
“The sales comprised of 2,786 units of Spark, 2,547 units of Beat, and 617 units of the Chevrolet Cruze,” the company said in a statement.
Sales of other brands like Tavera stood at 1,476 units, followed by 297 units of Aveo, 291 units of Aveo U-VA, 262 units of Chevrolet Optra and 100 units of the Chevrolet Captiva.
Recently General Motors completed seven years in the Indian Car Mart and so far they have managed to sell 1,00,000 units which was rolled out on November 27th 2010.
Yamaha India has reported a sales figure of 30,310 units for November 2010. Yamaha has confirmed that they managed to sell 24,600 units in the same month last year.
“We are glad that our sales have maintained a consistent growth trend. Our premium segment bikes such as FZ series and YZF-R15 are doing very well. Our powerful commuter SZ bike and entry level YBR 125 and YBR 110 bikes also continue to grow at a brisk pace,” India Yamaha Motor CEO and MD H Suzuki said.
In the domestic market, yamaha managed to sell 22,710 units, as against 17,055 in the same month last year, up 33.15 per cent. Yamaha India did well in the export department as well. They managed 7,600 units, as against 7,545 units in the year-ago period.
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01 December 2010
More news for you on the Abu Dhabi Motor Show which is just over a week away now:
Record-breaking attempt
The UAE’s Khaled Al Qubaisi has been announced as the driver who will be attempting to set a new world indoor speed record attempt – read previous story here.
On Thursday and Friday, December 9 and 10, he will be making a number of runs in different cars to beat the record which stands at 132kph. Al Qubaisi will race along a specially built, 340-meter long indoor track at ADNEC.
‘The world indoor speed record attempt represents an exciting challenge for me,’ said Al Qubaisi. ‘I am honoured to have been chosen for this mission. I see it as an opportunity to raise the UAE flag high, making it yet more prominent amongst the international community.’
The track, which will stretch the length of seven of ADNEC’s exhibition halls, will have a special spectator area to allow visitors to be part of this unique experience.
Lexus LFA Supercar
The exciting V10 Lexus supercar will be making its debut at the show in production form (it appeared at the Dubai Motor Show last year in race car guise fresh from the Nurburgring). Only 500 of these exotic Japanese cars will be made, all by hand at a rate of 20 per month.
‘I am delighted to confirm that global production includes an exclusive allocation for the UAE that will be delivered within the next 24 months. We are already talking to prospective buyers to discuss the various customisation options; at this level of purchase, customers want the car to be truly unique and personalised, and the LFA offers more bespoke options than any other Lexus model. Because there are so many areas of the vehicle to customise, no two identical models will exist in the UAE,’ revealed Saud Abbasi, general manager of Lexus, Al-Futtaim.
Also on display by Al-Futtaim, the UAE dealers for Toyota and Lexus, will be concept car, widely believed to be the FT86 rear-drive sports car, set to arrive towards the end of next year.
Jaguar Special Edition XKR
The fastest XKR ever will be at the show. The Special Edition XKR was first revealed at the Geneva Show earlier this year. Supercharged, it raises top speed from 250kph to 280kph and itself comes with two optional performance and styling packs – Speed Pack and Black Pack.
Also present will be the new XJ saloon and of course the XF. ‘The 2011 Jaguar fleet is one of the strongest portfolios of vehicles which we’ve had in generations. We’re very excited to share this refreshed and rejuvenated collection of beautiful fast cars with visitors to the Abu Dhabi motorshow,’ comments Robin Colgan, Managing Director of Jaguar Land Rover MENA.
Previous Abu Dhabi Motor Show stories
Chevrolet Captiva, GMC Acadia Denali and Terrain
Set a world record at Abu Dhabi Motor show
