Hyundai Motor India Ltd today said it will hike prices by up to Rs 1 lakh across models from January to offset higher input costs, fluctuating exchange rates and marketing expenses.

"In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses," HMIL Senior Vice President, Sales and Marketing Rakesh Srivastava said in a statement.

"The proposed price increase will be up to Rs 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe," he said.

The company sells a range of passenger vehicles, from entry level small car Eon with a starting price of Rs 3.27 lakh to SUV Santa FE priced at Rs 31.98 lakh (ex-showroom Delhi).

Earlier in the day, Nissan Motor India said it will increase prices of its vehicles by up to Rs 30,000 from next month to offset higher input costs.

The company sells a range of vehicles under the Nissan and Datsun brands starting with entry level small car Datsun Go priced at Rs 3.28 lakh to SUV Nissan Terrano Rs 13.75 lakh (ex-showroom Delhi).

Tata Motors had yesterday announced that it would hike passenger vehicle prices by Rs 5,000 to Rs 25,000 from next month in order to offset increased input costs.

Renault India has also announced plans to increase prices of its vehicles by up to 3 per cent from next month for the same reason.

Earlier, Toyota Kirloskar Motor (TKM) had announced hike in prices of its vehicles by up to 3 per cent from next month to offset increased input cost and consistent upward trend in foreign exchange rates. 

NEW DELHI: Hyundai Motor India - Chennai has been bestowed with the "Indian manufacturer of the year award", at the 13th edition of the 'India Manufacturing Excellence Awards (IMEA) 2016' organised by Frost & Sullivan. The first runner up position has been given to Mahindra & Mahindra - Igatpuri.

"Manufacturing is the key driver of economic prosperity and creates more wealth than any other industry. The current challenges of low demand, increasing raw material, and labor cost require organisations to adopt advanced manufacturing practices to become efficient and remain competitive. Adoption of right technologies to take companies to next level of performance, efficiency, and quality will be crucial to sustenance," said Nitin Kalothia, Director, Manufacturing & Process Consulting Practice, Frost & Sullivan.

This year's Manufacturing Excellence awards were presented to 27 companies under three major categories: Indian Manufacturer of the Year Award, Future Ready Factory of the Year Award and Gold Awards.

The Future Ready Factory of the Year Award in automotive sector has ben given to Toyota Kirloskar Motor - Bangalore.

The Gold Award in automotive sector (Mega Large Business) has been received by Eicher Motors - Royal Enfield (Oragadam), followed by Tata Motors - CVBU (Pune). Mahindra & Mahindra, Plant 2 (Nashik) has been awarded the same in Medium Business category.

Source Hyundai Motor gets Frost & Sullivan's Indian manufacturer of the year award

NEW DELHI: In a month when most car makers took a hit on account of the government’s demonetisation move, Maruti Suzuki reported a robust jump in wholesale volumes to corner 52% of the Indian passenger vehicle market. The company’s market share had stood at 46.7% in the year-ago period and at 44% in October 2016.

In November, Maruti Suzuki grew passenger vehicle sales by 14.1% to 1,26,220 units. Challenges in cash availability affected consumer sentiment across manufacturers with passenger vehicle sales inching up by around 2.6% to 2,42,700 units in November. The numbers are wholesale dispatches made to dealerships and do not reflect demand at the retail level.

Industry insiders said barring some major manufacturers who have order backlog on new products, for most companies, retail sales have dropped by 30-50%. A senior industry executive who did not wish to be quoted said: “Car makers who have pending orders managed to increase wholesale volumes.

Maruti Suzuki has a waiting period of up to six months on Baleno and Brezza. At present, consumers are not cancelling existing orders but taking time in deliveries.”

Fresh purchase decisions are also being postponed as disruption in the status quo has affected consumer sentiments. Car makers across the industry are doling out promotional offers and building awareness around use of digital wallets, cheques, credit and debit cards to facilitate cashless transactions.

Maruti Suzuki has maintained it is not expecting any long-term dent on sales because of demonetisation and the resultant cash crunch, as 85-90% of the purchases are funded by loans.

“For Maruti Suzuki, more than 50% of their sales are coming from models such as Ciaz, Ertiga, Baleno and Brezza, which are in high demand. Their product mix and technology offerings, such as mild hybrids and AMT, are strong. This has cushioned the impact," said Puneet Gupta, associate director at analytics firm IHS Markit.

 Source : Maruti Suzuki market share zooms in times of demonetisation

Japanese carmaker Nissan has started it first High Performance Centre (NHPC) in Noida, to meet committed services for its performance cars like the GT-R, the flagship supercar now being retailed at Rs 1.99 crore (ex-showroom Delhi).

Nissan had launched GT-R, the legendary sports car on Friday in India after showcasing the car at the 2016 Auto Expo.

Speaking with Business Today, Arun Malhotra, MD of Nissan India said that they are building up the infrastructure for its sports cars sold in India. "It is Nissan's first High Performance Centre in India. This comes after the launch of our iconic sports GT-R car in the local market. We are quite proud to extend technicians' ability to provide unique, global standards of technical assistance to Nissan GT-R owners across India. The GT-R is not a volume car for us, but we are still investing to provide a complete backup to our customers for all their service needs in India."

The staff at the NHPC in Noida has had rigorous training in Japan to provide world-class level of service to the GT-R customers. Additionally, mobile technicians called "flying doctors" will be on call to make on-site visits to help its owners anywhere in India.

Nissan Motor Company, which operates a 100 per cent owned subsidiary Nissan Motor India Private since 2005, currently retails to brands - Nissan and Datsun - with hatchback, MUV, SUV and the sedan segments in India.

Its entry into the luxury sports market comes at a time when the company is on a turnaround with sales growing at more than 50 per cent on the success of its micro car redi-GO. The new cars are expected to get a huge rub-off from the new GT-R, which has massive appeal among motoring aficionados.

"We are making a giant leap for the Nissan brand, unleashing our strong sporty DNA with our new flagship supercar. It will increase our brand visibility and accelerate our drive of new products for the new generation customers," Mr Malhotra added panerai replica.

The company is importing the GT-R for sale in the Indian market from Japan and has cricketing legends like Sachin Tendulkar in its customers' list of this sports car.

NEW DELHI: Maruti Suzuki BSE -0.16 % India today launched a limited edition version of its hatchback Wagon R, priced between Rs 4.4 lakh and Rs 5.37 lakh (ex-showroom Delhi), in the country.

The variant--'Wagon R Felicity' comes with various features including reverse parking sensors with display and voice guidance, body graphics and rear spoiler.
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"Wagon R is one of the most successful car brands ever in India. As the brand has evolved, its popularity and loyalty have grown... We wanted to celebrate the brand by creating something distinct and special, which is fresh and feature rich," Maruti Suzuki India Executive Director Marketing & Sales R S Kalsi said in a statement.

Wagon R Felicity will be available in limited numbers, he added.

"I am sure it will appeal to Wagon R loyalists as well as compact car customers who are looking for a product that is unique and distinct," Kalsi said.

Besides the manual transmission, Wagon R is available with the AMT option. It is offered in petrol as well as CNG.

The limited edition version will be available in two variants - Lxi and Vxi with all existing fuel and transmission options.

Source :  Maruti launches limited edition version of Wagon R