New Delhi. Hyundai Motors is the second largest car manufacturer in the country after Maruti Suzuki, but in terms of profit, the company has left Maruti Suzuki behind. The biggest rival car manufacturer of Maruti Suzuki and Tata Motors in the Indian market is earning more than these two companies on the sale of one car.
In the first nine months of FY24, Hyundai earned a total profit of Rs 75,000 on the sale of one car, which was 25% more than Maruti Suzuki. During the same period, Maruti Suzuki earned a total profit of Rs 60,150 on the sale of one car. Tata Motors, the country’s third largest carmaker, did not give information about the total profit of its passenger vehicle division, but the company said that its profit per car before tax was Rs 21,300.
Hatchback’s share in sales decreased
Hyundai Motor, once the largest manufacturer of hatchback cars in India, is now primarily manufacturing sports utility vehicles (SUVs). Now the company’s best-selling car is not a hatchback but an SUV. The company’s best-selling car in the Indian market is the Creta mid-size SUV. While the number of SUV models in the company’s portfolio has increased, now the company is selling only two hatchback models – Grandi10 Nios and i20. The average price of cars sold by Hyundai is Rs 8.92 lakh, while Maruti’s is Rs 6.33 lakh and Tata’s is Rs 9.07 lakh.
Hyundai is preparing to launch IPO
Hyundai Motor India, the Indian unit of Hyundai Motor, is preparing to launch its IPO in the Indian stock market. Hyundai can issue 14.2 crore equity shares in the Indian market through which the company will raise 2.5-3 billion dollars. This will be the largest IPO of any automobile company in the Indian market after Maruti Suzuki.
The company will launch 4 electric cars
In the information submitted to the market regulator, the carmaker said that it will launch 4 electric vehicles in the Indian market. This will also include the Creta EV which will be launched in the last quarter of this financial year. Currently, Hyundai is selling two electric cars Ioniq 5 and Kona Electric in the Indian market, which are priced at Rs 45 lakh and Rs 24 lakh (ex-showroom) respectively. The company says that it will initially launch premium electric cars, but later electric cars will be brought for general customers as well.
Hyundai owns three manufacturing plants in India. One of these plants was acquired from General Motors and is located in Talegaon, Maharashtra. This has taken the company’s total production capacity to over 1 million units per annum.
Tags: Auto News, Car Bike News
FIRST PUBLISHED : June 18, 2024, 14:36 IST