Maruti Suzuki aims to make 40 lakh cars annually by 2031, focusing on new tech

Maruti Suzuki aims to make 40 lakh cars annually by 2031, focusing on new tech

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Maruti Suzuki plans to invest a whopping ₹45,000 crore to double its annual production capacity in the next eight years, reported PTI. Maruti Suzuki India’s chairman RC Bhargava reportedly said on Tuesday that the automaker plans to produce 40 lakh cars annually by 2031 with the influx of investment it is making to double production capacity. This comes at a juncture when the Indian auto industry like the rest of the global automobile industry is witnessing the introduction of new technologies and Maruti Suzuki is aiming to take a lead in that.

By: HT Auto Desk
| Updated on: 29 Aug 2023, 15:25 PM

Besides focusing on doubling production capacity to 40 lakh cars annually by 2031, Maruti Suzuki is also emphasising on development of new technology for its vehicle fleet.

Despite being the largest car brand in India, Maruti Suzuki is yet to penetrate the EV segment, while Tata Motors, Hyundai, MG Motors and Mahindra along with several luxury car brands have already launched their respective products in the country’s electric car segment. Speaking about this, Bhargava accepted that the company is late in the segment but believes that it will not impact the brand by damaging its ability to get an adequate market share in the space.

Also Read : Maruti Suzuki plans 10 new cars including 6 electric cars by 2030. Details here

Watch: Maruti unveiled eVX EV Concept at Auto Expo 2023

He also said that Maruti Suzuki aims to launch six electric cars by the decade’s end, which would give it a strong position in the market. “Yes, we are behind some companies in launching EV but that does not mean that we are late in the market or that when we are coming in 2024-25, we will have in any way damaged our ability to get an adequate market share,” he added.

As Maruti Suzuki is thriving towards greener and cleaner powertrain technology, it will increasingly focus on a wide range of new technologies including electric vehicles, hybrids, CNG, ethanol and compressed biogas in the coming days, said Bhargava. Speaking about these technologies, he also said that it is difficult to predict what will happen in the next eight to ten years.

Bhargava also said that Maruti Suzuki has reached the 20 lakh units annual production and sales milestone. Now, it is aiming to double that figure by reaching the 40 lakh units annual production and sales milestone, he said. The plan will be part of the automaker’s ‘Maruti 3.0’ strategy, under which the company is targeting to add another 20 lakh units of production capacity with about 28 different car models in the market by FY 2030-31.

The Maruti Suzuki chairman said that the era ahead is going to be a very uncertain and challenging one. “The era before us is going to be a very uncertain era, a very challenging era. Putting up these two million cars itself will cost us something close to ₹45,000 crore. It depends how inflation goes but at the moment we estimate the cost about ₹45,000 crore for two million cars,” Bhargava said.

First Published Date: 29 Aug 2023, 15:25 PM IST


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Hyundai stares at big wage war, strike in home base. How it could affect sales

Hyundai stares at big wage war, strike in home base. How it could affect sales

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Hyundai Motor is facing a crisis in its home base of South Korea after a government organisation gave the green signal for unionized workers of the carmaker to go on strike. The protesting workers have been demanding a hike in wages and for the retirement age to be increased.

By: HT Auto Desk
| Updated on: 28 Aug 2023, 15:13 PM

File photo used for representational purpose. (REUTERS)

South Korea’s National Labor Relations Commission has permitted for Hyundai’s unionized workers to go on strike. Reuters, citing local reports, highlighted that these workers are now planning to gather and chart out their next course of action even though talks with the company management will continue as well.

The protesting workers had previously threatened to walk out unless Hyundai management agreed to their twin demands of wage increase and extension on the retirement age. The talks thus far has led to nothing significant.

Wage war at Hyundai: Potential fallout

If the unionized workers do go ahead with a general strike, this would turn out to be the first wage-related conflict at Hyundai in South Korea in five years. And it could not come at a worse time for the Korean car giant as it has been looking at ramping up production that has already taken a hit due to supply-related shortages.

A strike in the times to come could wreck havoc with delivery timelines of Hyundai models to the South Korean buyers, potentially ushering these customers towards rival brands. This especially so because the current inventories are rather minuscule.

It is further reported that Hyundai may be facing an operational loss of 1 trillion won ($755.37 million) if the strike does go ahead.

First Published Date: 28 Aug 2023, 15:12 PM IST


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Hyundai Exter receives more than 50,000 bookings, AMT is in demand

Hyundai Exter receives more than 50,000 bookings, AMT is in demand

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Hyundai Motor India Limited (HMIL) has announced that they have received more than 50,000 bookings for the Exter. Bookings grew from 10,000 to 50,000 in just 30 days of launch. Hyundai has also revealed that more than one-third of the bookings are for the AMT variants. Hyundai Exter’s main rival is the Tata Punch. The Exter is currently priced between ₹6 lakh and ₹10 lakh. Both prices are ex-showroom and introductory.

By: Paarth Khatri
| Updated on: 09 Aug 2023, 14:21 PM

Hyundai Exter is the tallest and has the longest wheelbase in its segment. (HT Auto/Sabyasachi Dasgupta)

The Exter is being sold in seven variants. There is EX, EX(O), S, S(O), SX, SX(O) and SX(O) Connect. Hyundai Exter is offered with a 3-year (unlimited kilometres warranty) along with an option of 7 years of extended warranty. The micro SUV is available with 6 Monotone and 3 Dual tone exterior colour options.

The Exter really made a mark in the market by offering several segment-first features. It comes with footwell lighting, metal pedals, a shark-fin antenna, a smart electric sunroof, a dashcam with dual cameras, a wireless charger, rear AC vents, premium floor mats, paddle shifters, on-board navigation and support for multiple languages.

Powering the Exter is a 1.2-litre, four-cylinder naturally aspirated engine that is doing duty on other Hyundai models. It produces 81.86 bhp of max power and 113.8 Nm of peak torque. While running on CNG, these figures are reduced to 68 bhp and 95.2 Nm. The max power arrives at 6,000 rpm while the peak torque output arrives at 4,000 rpm.

The Petrol powertrain comes mated to a 5-speed manual gearbox or a 5-speed AMT. The CNG powertrain only gets a 5-speed manual gearbox. The engine is quite smooth and refined. Moreover, the manual gearbox also slots in with a positive feel and while the AMT gearbox shifts with a minimal head nod, making it one of the best AMTs in the market. Interestingly, the Exter AMT is also offered with paddle shifters.

Watch: Hyundai Exter SUV: First Drive Review

Commenting on the announcement, Mr. Tarun Garg, COO, Hyundai Motor India Ltd., said, “With Hyundai EXTER, we have continued our pursuit of democratizing advanced technology, superior quality, next-gen features, safety and comfort for customers. This SUV has redefined benchmarks in the country and offers customers superior safety with 6 Airbags as standard and ESC, VSM, HAC available across all trims as option. The response to EXTER is euphoric, so much so that the bookings have zoomed from 10,000 prelaunch to 50,000 plus in less than 30 days of launch. What is also interesting to witness is that the trims with sunroof constitute more than 75% of total bookings signaling a big thumbs up from the customers for the segment raising benchmark features introduced in the EXTER. HMIL would like to sincerely thank our customers for their trust and love for Hyundai EXTER and we are confident that the Hyundai SUV Life will continue to elevate their aspirations.”

First Published Date: 09 Aug 2023, 14:21 PM IST


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New Hyundai Santa Fe to officially debut on August 10, more details to reveal

New Hyundai Santa Fe to officially debut on August 10, more details to reveal

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Even though Hyundai has already revealed the new Santa Fe SUV, there are many details still unknown. The South Korean automaker is ready to officially showcase the new Hyundai Santa Fe on August 10. Also, it is expected to reveal a host of details about the car as well. While the automaker previously unveiled the exterior and interior design elements of the new Santa Fe, on August 10, it is expected to reveal details about the specification.

By: HT Auto Desk
| Updated on: 08 Aug 2023, 15:33 PM

The new Hyundai Santa Fe SUV looks radically different from the previous generation.

Speaking about the new Hyundai Santa Fe, it looks radically different compared to its previous iteration. It comes as a major departure from the current generation of Santa Fe’s design. The next-generation Hyundai Santa Fe comes with a squared-off and boxy look. It also features funky H motifs on the LED headlamps, something we have seen in the new Hyundai Exter that was launched in India a few weeks ago. The SUV could come available in multiple wheel size options, measuring between 18-21 inches, which will seat under the squared-off wheel arches.

Also Read : Hyundai Exter first drive review: The definitive punch in the entry SUV segment

The copper-coloured Hyundai Santa Fe that was revealed online featured 2.5T and HTRAC badges, which probably hint at a turbocharged 2.5-litre four-cylinder engine and an all-wheel drive powertrain. The current generation Hyundai Santa Fe is available with both turbocharged and non-turbocharged 2.5-litre engines. Also, there are hybrid and plug-in hybrid versions of the SUV. Expect the new generation SUV too to come with a wide range of powertrain options. The auto manufacturer is likely to reveal these details on August 10.

Inside the cabin, the new generation Hyundai Santa Fe will come carrying the band’s fresh cabin styling language. There will be a large touchscreen infotainment system complemented by a fully digital instrument cluster. Expect multi-zone automatic climate control, and wireless phone charging in the centre console to be there among other features.

First Published Date: 08 Aug 2023, 15:33 PM IST


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Hyundai offers discounts up to ₹2 lakh on select models in August

Hyundai offers discounts up to ₹2 lakh on select models in August

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Hyundai Motor India is offering some of its cars with benefits up to ₹2 lakh in the month of August. The offer applies on models like i20, i20 N Line, Grand i10 Nios, Aura, Alcazar and Kona Electric. Benefits include cash discounts, exchange bonus and benefits for corporate and government employees. However, Hyundai has kept some of its best-selling models like Creta, Venue and Verna out of this scheme.

By: HT Auto Desk
| Updated on: 03 Aug 2023, 14:58 PM

Hyundai Alcazar

Hyundai Kona Electric

The OEM is offering benefits up to ₹2 lakh on the electric model, which is a significant rise from the ₹1 lakh benefit being offered in July. It is the brand’s first all-electric vehicle that was launched in the country. It comes with a 39.2 kWh lithium-ion polymer battery that churns out 136 PS of power and 395 Nm of torque.

Hyundai i20, i20 N Line

Both the models are available with benefits up to ₹40,000. The premium hatchback is a good fit if one is looking to buy a car that costs around ₹10 lakh and comes loaded with features. It comes with a 26.03-cm HD Touchscreen Infotainment and Navigation System in the high-spec Asta(O) variant.

Hyundai Grand i10 Nios

The hatchback from Hyundai is available with benefits up to ₹43,000. Benefits can include cash discount, exchange bonus and corporate benefits. The car gets a 1.2-litre Kappa petrol unit mated to a manual or an automatic gearbox. There is also a CNG variant on sale.

Hyundai Aura

This sedan from the OEM gets benefits up to ₹33,000 this month. The car gets various features such as wireless phone charging, smart key with push button, keyless entry, cruise control, among others.

Hyundai Alcazar

The carmaker is offering the SUV with benefits up to ₹20,000 in August. This model comes in a six-seat and a seven-seat configuration with height adjustable headrest for all three rows.

Disclaimer: These discounts are indicative figures and one must reach out to nearest dealerships for a detailed break up of the scheme.

First Published Date: 03 Aug 2023, 12:00 PM IST


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Creta, Venue SUVs help Hyundai India to sell over 66,000 cars in July

Creta, Venue SUVs help Hyundai India to sell over 66,000 cars in July

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Hyundai Motor India Ltd (HMIL), on Tuesday, announced that it cumulatively sold 66,701 cars in July 2023. This marks a 4.46 per cent growth compared to the South Korean automaker’s sales numbers posted in July last year when it registered 63,851 units. In the domestic market, Hyundai India recorded 50,701 units in July this year, registering a marginal growth as compared to 50,500 units sold in the same month a year ago.

By: HT Auto Desk
| Updated on: 01 Aug 2023, 12:46 PM

The range of SUVs has helped the automaker to post significant growth in sales in July 2023.

While domestic market sales for Hyundai India have witnessed marginal growth, export numbers for the car manufacturer have seen a substantial surge in sales with 16,000 units sold last month, up by 19.84 per cent from 13,351 units sold in the same month a year ago.

Also Read : Hyundai Creta Adventure and Alcazar Adventure trademarked: Will launch soon

Watch: Hyundai Exter SUV: First Drive Review

Commenting on the sales performance of the automaker, Tarun Garg, COO of Hyundai Motor India Ltd., said that July 2023 marked a significant milestone for the automaker. He attributed the sales performance of the automaker to the range of SUVs sold by the company in India, which include popular models like Creta, Venue alongside Tucson, Alcazar, Kona Electric etc.

Garg also hopes that the automaker would be able to post even better sales results in the coming days buoyed by the newly introduced Exter. The upcoming festive season too is expected to help the automaker to post even better sales results, hopes the Hyundai official. “July 2023 marks a significant milestone in Hyundai Motor India’s journey in India. Our Domestic July Sales volume of 50 000 plus units is backed by a strong SUV portfolio. This has been bolstered by the addition of Hyundai Exter to an already strong SUV line-up led by brands like Creta, Venue, Venue N-Line, Tucson, Alcazar, Kona Electric and all-electric SUV Ioniq5. With the semiconductor supply issues more or less behind us, we are all geared up for the upcoming festive season in India starting with Onam in Kerala,” he said.

First Published Date: 01 Aug 2023, 12:46 PM IST


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