Hyundai India shrugs off China's rare-earth ban; quarterly profit tops view
Carmakers in India - the world's third-largest auto market - are boosting exports to offset slowing local sales, tighter margins and rising discounts, even as China's rare-earth export ban looms over EV supply chains.
However, Hyundai's manufacturing head Gopalakrishnan C S said in a post-earnings conference call said the company remains unaffected by the ban for now, with adequate inventory.
"(With) rare earth as such, we are not facing any issue. We (have) adequate inventory for the near term already," he said.
While profit declined 8% to 13.69 billion rupees ($156.7 million) in the three months to June 30, it topped analysts' estimate of 12.59 billion rupees, according to data compiled by LSEG.
A 13% rise in exports helped cushion a 6% drop in quarterly sales, and the automaker expects overseas shipments to grow 7%–8% this fiscal year.
Managing Director Unsoo Kim said he expects the momentum to continue, with exports making up 27% of first-quarter sales and a 30% share targeted for the full year.
In the quarter, domestic sales fell 12%.
Its June-quarter revenue fell 5.4% to 164.13 billion rupees, while expenses dropped 5%. Shares, up 8% since listing in October 2024, closed 0.7% lower on Wednesday.
The Indian unit of South Korea's Hyundai Motor (005380.KS), opens new tab, like several of its peers, is banking on the upcoming festive season and easing interest rates to revive flagging domestic demand.
Rival Mahindra and Mahindra (MAHM.NS), opens new tab reported a better-than-expected rise in quarterly profit, driven by robust demand for high-margin sports utility vehicles and tractors.
($1 = 87.3720 Indian rupees)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Auto Blog
an hour ago
- Auto Blog
Battle of the 2025 Chevrolet Blazer: Gas Versus Electric
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Looking for a lease on the new 2026 Hyundai Santa Fe? Find out the August lease special, including monthly payment, term length, and down payment for this popular SUV. The Blue Oval will reveal a new EV and strategy on August 11, which is aimed at competing against China's best. Siblings by nameplate We've seen a couple of automakers sharing nameplates across gas and electric vehicles now, with the Chevrolet Blazer and Blazer EV serving as a shining example. While sharing a nameplate helps in name recognition, it can also be confusing, especially if you're not a car person. Both the Chevy Blazer and Blazer EV offer sharp styling, spacious seating, and an excellent driving range. In terms of performance and price, however, they couldn't be more different. 2023 Chevrolet Blazer RS — Source: Chevrolet Combustion and electrification collide The 2025 Chevrolet Blazer comes equipped with two engine options: a 2.0-liter turbocharged four-cylinder and a naturally aspirated 3.6-liter V6. Both engine options come paired with a nine-speed automatic transmission and front-wheel drive. All-wheel drive is available as an upgrade for another $2,700. The turbocharged powertrain generates 228 horsepower and 258 lb-ft of torque. It's the more efficient of the two engine options, earning up to 25 mpg in combined city/highway driving for an estimated 485-mile range. The naturally aspirated V6 engine is optional on most trim levels and produces 308 horsepower and 270 lb-ft of torque. Fuel efficiency takes a hit, though, with V6-equipped models earning up to 21 mpg in combined city/highway driving for an estimated 456-mile range. 2023 Chevrolet Blazer RS — Source: Chevrolet Thanks to the electric motor's instant torque, every rendition of the Chevy Blazer EV is quick off the line. That's where the simplicity ends, though. The entry-level LT is available with front- or all-wheel drive, while the RS comes in front-, rear-, or all-wheel drive configurations. The top-tier SS trim is only available with all-wheel drive. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Blazer EV LT and RS models with front-wheel drive feature a single electric motor that produces 220 horsepower and 243 lb-ft of torque, with a 312-mile range. RS models equipped with rear-wheel drive can travel up to 334 miles on a single charge while the electric motor generates 365 horsepower and 325 lb-ft of torque. LT and RS trims with all-wheel drive boast 300 horsepower and 355 lb-ft of torque, and can go as far as 283 miles. 2025 Chevrolet Blazer EV SS — Source: James Ochoa/Autoblog The SS trim features a performance version of the dual-motor AWD system tuned to produce up to 615 horsepower and 650 lb-ft of torque. Even with that kind of power, the SS model can go up to 303 miles on a single charge. According to GM estimates, the Blazer EV SS can go from zero to 60 mph in just 3.4 seconds. Blazer's shared nameplate extends to trim levels When it comes to the initial price, the gas-powered Blazer is the better choice. Starting at $35,600, the Blazer 2LT comes with heated front seats, a 10.2-inch touchscreen display, and wireless Apple CarPlay and Android Auto compatibility. The 3LT, available from $39,500, builds on the entry-level trim with a power liftgate, heated side mirrors, and leather-appointed seats. 2023 Chevrolet Blazer RS — Source: Chevrolet The RS and Premier trims top the range, and each comes priced from $43,000. Both models feature their own unique design elements and share several amenities. An eight-speaker Bose premium sound system, 10.2-inch touchscreen display, and Apple CarPlay and Android Auto compatibility come standard on both Blazer trims. The RS trim features black exterior accents, including black bowties and roof rails. The dual exhaust highlights the model's performance-driven aesthetic. Inside, the RS model includes black perforated leather-appointed seats with red accents. The Premier trim presents a more refined package, with a chrome horizontal grille, silver roof rails, and chrome accents. 2023 Chevrolet Blazer RS — Source: Chevrolet The electrified Blazer EV comes in three trim levels, all of which put an emphasis on technology and futuristic design elements. Starting at $44,600, the Blazer EV LT rides on 19-inch wheels accented by LED headlights and a body-color grille. Inside, the entry-level model features a 17.7-inch touchscreen and an 11-inch driver information display. The RS trim builds on the LT, with black elements similar to those found on the gas-powered Blazer RS. 21-inch black wheels create an athletic aesthetic from the ground up, and an illuminated front light bar and bowtie add a futuristic look. Inside, the RS trim includes heated and ventilated front bucket seats wrapped in perforated suede and Evotex upholstery. The mid-tier Blazer EV RS starts at $49,900. 2025 Chevrolet Blazer EV SS — Source: James Ochoa The top-spec SS trim starts at $60,600 and brings the sport-inspired styling that the moniker is known for. Aggressive design elements, including a standard black roof and functional aerodynamic enhancements, make the Blazer EV SS stand out from the rest of the range. An informational G-force screen plays into the performance model's aesthetic, and Z-Mode allows the driver to customize aspects of the Blazer EV's driving, including steering and throttle, for a more engaged experience. Final thoughts The 2025 Chevrolet Blazer and Blazer EV may share a nameplate, but they're far from being identical models. Despite sharing a badge, these crossovers differ in powertrain, technology, and styling. If price is the primary concern, the gas-powered Blazer is the clear pick, while the electrified model is the better option for long-term fuel savings. Even so, if you're in need of a family crossover, the Blazer and Blazer EV are solid choices in their respective segments. About the Author Joseph Pudlewski View Profile
Auto Blog
an hour ago
- Auto Blog
Hyundai Offers Killer 2026 Santa Fe Lease Deal for August
By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. The Macan will return with gas power, only it won't be the Macan at all. The boxy-good and high-tech Santa Fe is one of the most appealing mid-size SUVs around The 2026 Hyundai Santa Fe looks like the South Korean brand took a 2016 Land Rover LR4 and created its own, fresher, and more attractive version. Fully redesigned last year, the Santa Fe departs completely from its sleeker predecessor in favor of a more upright and boxy look. With sharply defined fender arches, distinctive H-pattern headlights and taillights reminiscent of Minecraft blocks, an extra-wide tailgate, and a confidently boxy silhouette, the Santa Fe delivered one of the boldest and most original designs in recent memory. It's now the brand's second best-selling SUV (behind the Tucson) and third best-selling vehicle (the Elantra takes the #2 spot). The competition in the midsize SUV segment is fierce, and the Santa Fe's bold design and airy cabin stand out in a field that's packed with competitors like the Honda CR-V, Toyota RAV4, Nissan Rogue, Subaru Forester, Kia Sorento, and Mazda CX-5. The fifth-generation Santa Fe is easily the boxiest in the set, and it's the only one to offer a standard third row. It has space galore, brilliant storage, cutting-edge in-car technology, and some of the best standard features in the industry. The August lease deal makes it even more appealing. 2026 Hyundai Santa Fe lease deal for July Source: Hyundai August is a great time to get into a new Santa Fe SE with a lease deal at $349 per month for 36 months. $3,999 due at least signing, which includes the first $349 monthly payment and $3,650 capitalized cost reduction. No security deposit is required. Does not include registration, tax, title, license, processing or documentation fees, insurance, or any emission charge. The mileage limit is 10,000 miles per year. A $400 disposition fee is due at the end of the lease (except for CO, IN, IA, KS, ME, OK, SC, WI, WV, & WY, where the disposition fee is subject to the limitations of state laws). Not all lessees will qualify, and higher rates may apply for those with lower credit scores. Lease offer ends September 2, 2025. Learn more here. 2026 Hyundai Santa Fe SE feature highlights The Hyundai Santa Fe SE is the base model in the lineup. It features a 2.5-liter turbocharged four-cylinder engine that delivers 277 horsepower and 311 lb-ft of torque. It comes in front-wheel drive or optional all-wheel drive, using an 8-speed automatic transmission. EPA estimates are 20 city, 29 highway, and 24 combined with front wheel drive. All-wheel drive drops a smidge with 20, 28, and 23, respectively. Autoblog Newsletter Autoblog brings you car news; expert reviews and exciting pictures and video. Research and compare vehicles, too. Sign up or sign in with Google Facebook Microsoft Apple By signing up I agree to the Terms of Use and acknowledge that I have read the Privacy Policy . You may unsubscribe from email communication at anytime. Standard features on the SE include 18-inch alloy wheels, 235/60 R18 all-season tires, LED headlights and DRLs, LED taillights, automatic headlights, heated side mirrors, a handsfree smart liftgate with auto open, proximity key, power lumbar driver's seat, power folding rear seats, a 12.3-inch infotainment touchscreen with OTA updates, a 4.2-inch driver information display, wireless Apple CarPlay/Android Auto, and a proximity key with push button start. Source: Hyundai The robust set of standard safety features includes blind spot collision warning, rear cross-traffic avoidance assist, parking distance warning, forward collision avoidance assist with pedestrian/cyclist/junction turning detection, adaptive cruise control with stop & go, lane keeping assist, driver attention warning, safe exit assist, and lane following assist. The Santa Fe also earned the IIHS Top Safety Pick+ for 2025, a remarkable achievement given the rigorous testing and high standards required to earn the title. The Santa Fe's total passenger volume is 166.6 cubic feet, and the second row provides a truly spacious 42.3 inches of second-row legroom, while the third row offers 30 inches of legroom. The cargo area provides 14.6 cubic feet behind row three, 40.5 cubic feet of space behind the second row, and 79.6 cubic feet with the second and third rows folded flat. Final thoughts Source: Hyundai The 2026 Hyundai Santa Fe is one of the most original SUVs on the road today. It offers tremendous versatility with its lounge-like rear section and wide liftgate. Great standard features on the base model, such as a wireless device charger, adaptive cruise control, and a 12.3-inch color touchscreen, are great examples of how much value Hyundai bakes into its vehicles. With three rows of roomy seating, the Santa Fe can accommodate big families without any trouble, and it does so in style. The very affordable monthly lease payment makes it even more attractive in the month of August. Before signing the lease agreement, be aware of the costs due at signing, including taxes and registration fees, etc. Read the lease agreement carefully and inquire about potential additional costs at the dealership. *Disclaimer: This article is provided for informational purposes only. The information presented herein is based on manufacturer-provided lease offer information, which is subject to frequent change and may vary based on location, creditworthiness, and other factors. We are not a party to any lease agreements and assume no liability for the terms, conditions, availability, or accuracy of any lease offers mentioned. All terms, including but not limited to pricing, mileage allowances, and residual values, require direct verification with an authorized local OEM dealership. This article does not constitute financial advice or an endorsement of any particular lease or vehicle. About the Author Amos Kwon View Profile
BBC News
3 hours ago
- BBC News
Why Donald Trump's tariffs take aim at Asia and your iPhones
When he began his trade war, President Donald Trump said his goal was to bring American jobs and manufacturing back to the US, reduce trade deficits and create a more level playing field for American companies competing globally. But after months of negotiations and many countries' refusal to meet America's demands, his strategy has taken a more punitive companies have been here before. Under Trump's first administration, when he imposed tariffs on Chinese exports, they scrambled to limit their exposure to Beijing, with many shifting production to Vietnam, Thailand and India to avoid higher levies. But his battery of new tariffs does not spare any of these economies. Stocks saw a sell-off, with benchmark indexes in Taiwan and South Korea in the red on Friday. Both countries are central to Asia's sprawling electronics production. The details are still hazy, but US firms from Apple to Nvidia will likely be paying more for their supply chains - they source critical components from several Asian countries and assemble devices in the they are on the hook - for iPhones, chips, batteries, and scores of other tiny components that power modern lives. It's not good news for Asian economies that have grown and become richer because of exports and foreign investment - from Japanese cars to South Korean electronics to Taiwanese chips. Soaring demand for all these goods fuelled trade surpluses with Washington over the years - and has driven President Trump's charge that Asian manufacturing has been taking American jobs away. In May, Trump told Apple CEO Tim Cook: "We put up with all the plants you built in China for years... we are not interested in you building in India, India can take care of themselves." Apple earns roughly half its revenue by selling iPhones that are manufactured in China, Vietnam and India. The tech giant reported bumper earnings for the three months to June, hours before Trump's tariff announcement on Thursday night, but now the future looks more executive Tim Cook told analysts on a conference call that tariffs had already cost Apple $800m (£600m) in the previous quarter, and may add $1.1bn in costs to the next quarter. Tech companies typically plan years ahead, but Trump's unpredictable tariff policy has paralysed businesses. Amazon's online marketplace, for instance, is just as dependent on China for what it sells in the US. But it's not yet clear what rates Chinese imports into the US could face because Beijing has yet to strike a deal with Washington - it has until 12 August to do so. Before they agreed to de-escalate, the two sides imposed tit-for-tat tariffs that reached a staggering 145% on some goods. But it's no longer just about China. On Thursday, Mr Cook said that most iPhones sold in the US now come from India. But Trump has just levelled a 25% tariff on Indian imports, after Delhi was unable to clinch a deal in time. Other firms chose to re-route their goods bound for the US through Vietnam and Thailand after the tariffs in Trump's first term. It became so common that it was called the "China+1" strategy. But this time, these trans-shipped goods are also being targeted. In fact, trans-shipping has been a big part of the US negotiations with Asian countries. Vietnamese imports face a 20% US levy but trans-shipped goods face 40%, according to Trump. It's harder still for advanced manufacturing like semiconductors - more than half of the world's chips, and most of its advanced ones, come from Taiwan. It is now subject to a 20% tariff. Chips are the backbone of Taiwan's economy, but also central to US efforts to gain a technological lead over China. So it is another US company, Nvidia, that will pay steep levies to put advanced chips by Taiwan's TSMC inside its AI products. But perhaps the biggest casualty of Trump's tariffs could well be Asia's e-commerce giants - as well as the American companies that rely on Chinese sellers and marketplaces. In a surprise move this week, Trump ditched the "de minimis" rule which exempted parcels under $800 from customs duties. He first did this in May, targeting such parcels from China and Hong Kong - and this was a blow for retailers like Shein and Temu, whose huge success has come from online sales in the West. Now American sites like eBay and Etsy have also lost that exemption - and the price of second-hand, vintage and handmade items for US customers will go up. President Trump says he is batting for Americans with these tariffs, but in a deeply globalised world, US firms and customers could also become casualties. There is still so much uncertainty that it is hard to see who the winners really are.
