Latest news with #CretaEV
Hindustan Times
9 hours ago
- Automotive
- Hindustan Times
Hyundai Creta Electric SUV clocks over 4,000 unit sales since launch, still lacking in competition
Hyundai Creta EV claims to have clocked over 4,000 units in the Indian passenger vehicle market since launch. Check Offers Hyundai India has claimed that it has sold more than 4,000 units of the Creta Electric SUV so far in the Indian market. The electric SUV, which is the most affordable EV in Hyundai's India portfolio, competes in a segment where Tata Motors has a strong presence with its range of electric SUVs. Despite Hyundai claiming that it sold over 4,000 units of the Creta EV, the number is significantly less compared to other electric SUVs like the Tata Nexon EV, which registers about 3,000-4,000 units every month. MG Windsor EV, another increasingly popular electric car in the Indian market, is also doing well. The Battery-as-a-Service (BaaS) option allows the user to buy this electric car loaded with a wide range of upmarket features at ₹ 9.99 lakh (ex-showroom). The MG Windsor EV has been retailing about 3,000-4,000 on average every month, and is emerging as India's highest-selling EV. Also Read : Upcoming cars in India On the other hand, priced between ₹ 17.99 lakh and ₹ 24.37 lakh (ex-showroom), the electric version of the Hyundai Creta comes as an expensive option for consumers, especially when buyers seek more value-for-money from the vehicles they are buying. Hyundai Creta Electric: What it offers? The Hyundai Creta Electric comes as a pure electric avatar of the Creta SUV. The EV retains the design philosophy that is similar to what the Hyundai Creta's ICE models come with. However, there are some electric vehicle-specific design elements as well, which include the closed panel at the front, aero alloy wheels, etc. Some of the features inside the cabin include voice-enabled smart panoramic sunroof, eight-speaker Bose sound system, In-car payment, digital key, dual-zone automatic climate control, ventilated front seats, rain sensing wiper, 10.25-inch touchscreen infotainment system and 10.25-inch fully digital instrument cluster etc. It also gets V2L (Vehicle to Load) and V2V (Vehicle to Vehicle) technology. The V2L technology allows the SUV to power up appliances and gadgets, while the V2V technology ensures the Creta EV charges another electric vehicle. Powering the SUV is a 42 kWh battery pack, while there is a bigger 51.4 kWh battery pack as well. The running range per charge cycle ranges between 390 km and 473 km. Check out Upcoming EV Cars in India. First Published Date: 08 Jun 2025, 10:08 AM IST
Mint
5 days ago
- Automotive
- Mint
Tata Motors plans a premium push as competition intensifies in EV space
Tata Motors Ltd, the country's first carmaker to enter the electric vehicles space with the launch of Tigor back in 2018, aims to bolster its presence in the premium EV segment while ensuring products across a full spectrum of price points amid intensifying competition. India's third-largest automaker by the number of cars sold launched the EV variant of its Harrier sports utility vehicle (SUV) on Tuesday at an ex-showroom price of ₹21.49 lakh. The launch of the new electric vehicle comes at a time when Tata Motors' lead in the electric vehicles segment is being aggressively challenged by MG Motor India, Mahindra & Mahindra (M&M) and Hyundai. Its market share in the EV space slumped to 55.4% in FY25, from 73.1% in FY24 and 84% in FY23. As many as 117,000 EV cars were sold in India in FY25. However, Shailesh Chandra, managing director at Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility, noted that the company's key strength is its strategy to have a presence in each price point. Also Read: How Tata Motors plans to win back the market with its hatchbacks 'The right way to look at the market is to divide it into three segments based on pricing. Through our launches this year, we will have 2 cars each in the entry segment, mid segment and the high segment," Chandra told Mint in an interview. 'After Harrier and Sierra launches this year, we will go even further in the premium segment with more launches in upcoming years." Focus on volumes Sales of higher-priced cars result in an increase in the average selling price, which allows a company to have more revenue even if the volume declines. Mahindra & Mahindra had stated earlier that it is looking to dominate the market through leadership in revenue market share. During the January to March quarter, M&M garnered a 33.1% revenue share. However, Chandra says Tata Motors will not shift its focus to revenue market share and instead look to dominate volumes. 'While selling more luxury vehicles can help get more revenue share, whether you are a popular brand among the customers of the country is decided by the share in volumes," Chandra highlighted. But the car market has not given automakers many reasons to cheer in the last one year. During the last financial year, the growth in the passenger vehicle market was just 2%. Tata Motors sales in the year was at 556,263 units, 3% lower than in FY24. 'You have to try and excite a tepid car market through new launches," Chandra said. Market share, service challenges During April and May 2025, Tata Motors' share in the EV market fell to 38% with 9,043 units sold. Since late last year, it has faced pressure from Windsor EV of JSW MG Motor India, Creta EV of Hyundai Motor India and Mahindra electric SUVs BE 6 and XEV 9e. Shares of Tata Motors fell 1% on Tuesday to close at ₹704.30 apiece on the National Stock Exchange. The stock has fallen 5.5% during 2025 as against a 0.86% rise in Nifty Auto index. Also Read: Trump's tariffs push Indian exporters to redraw game plans While Tata Motors is trying to address the challenge by introducing new models in each price range, it is also addressing customers' complaints about the company's servicing capabilities. During a meeting with analysts in March, the management acknowledged that there was an issue with service capabilities. 'Management indicated that while most of its products are well positioned, there is a need to enhance the service capabilities of its outlets," analysts at Motilal Oswal Financial Services wrote in a 11 March note. 'Given the rise in its market share without a corresponding increase in servicing throughput, customers are now facing challenges in receiving timely service." Chandra also noted that the company's focus in the last one year has been on improving servicing capabilities. 'Our growth in the last few years in a few cities was more than anticipated, which led to some hotspots emerging where our service capabilities lagged. We have focused on increasing servicing bays at our service centers, adding more than 1,300 bays over the last one year," he said. EV offerings, premiumization plans In 2025, Tata Motors has been trying to increase the premium experience of its cars with refreshed launches of its hatchbacks Tiago and Altroz. To get growth back in the passenger vehicle market, it is expanding offerings in the electric vehicle space and premiumising its cheaper hatchback cars in the sub- ₹10 lakh range to attract more customers. Also Read: Fronx, Jimny drive Maruti's export boom to Japan amid home market slowdown "Refresh launches of Altroz and Tiago (launched in Q4) will help Tata Motors regain lost market share in hatches, while the launch of Sierra ICE and EV and Harrier EV may strengthen Utility Vehicle share," Jay Kale of Elara Capital wrote in a 14 May note.
Mint
19-05-2025
- Automotive
- Mint
Hyundai Motor looks to accelerate speed with EV, hybrid car
Hyundai Motor India Ltd has been hit hard by the waning popularity of hatchback cars in India. Its domestic sales volume fell by 4% year-on-year in the March quarter (Q4FY25) led by a steep 18% drop in hatchback volumes. Export volumes saved the day, clocking 14% growth, keeping the company's total volume largely stable at 191,650 units. Average sales realization (blended for domestic and exports) increased 4.8% quarter-on-quarter to ₹8,94,792 per car. Year-on-year comparison showed the sales mix shifting in favour of a higher-priced SUV that benefits overall realization. So, it is better to look at the QoQ trend as the sales mix remained largely unchanged. Price hikes and lower discounts lifted realization. Consequently, Q4FY25 Ebitda margin rose QoQ by 271 basis points to 14.2% even though it was flattish year-on-year. For FY26, the management expects low single-digit sales growth in the domestic market with export growth pegged at 7-8%. Hyundai aims to maintain a double-digit Ebitda margin in FY26. There could be some pressure on the net profit as depreciation from the commissioning of the Pune plant acquired from General Motors starts reflecting in accounts. Focus on portfolio Hyundai has chalked out separate strategies for expanding product portfolio in the short-term and long-term. Currently, it is not present in the hybrid car segment and plans to launch a model by September. Maruti Suzuki India Ltd and Toyota have hybrid car models of Grand Vitara and Hyrider respectively that use petrol engine and electric motor, and offer flexibility to use either mode. Hybrid vehicles help address the needs of buyers worried about the widespread availability of electric vehicle (EV) charging infrastructure with faster charging speed. Hyundai hybrid car could be manufactured at the Pune plant, which is likely to start operations in H2FY26. The plant's initial capacity is 170,000 vehicles, and is likely to be raised to 2,50,000 units by 2028. Also read | 'India to have 123 million EVs on the road by 2032 under best-case scenario' Creta EV shines Hyundai Creta EV, launched in Q4FY25, has been received well by consumers with most bookings for the long-range variant. According to the management, the EV is profitable for Hyundai if the launch-related marketing expenses and test drive discounts are ignored. It is focusing on localization strategy for battery cells in future to further boost the profitability of the model. Investors will closely track if Creta EV and the launch of hybrid car help Hyundai regain lost market share. Note that Hyundai's market share based on wholesale volumes fell to 13.9% in FY25 from 14.6% a year ago. In the long term, Hyundai has ambitious plans to expand its product portfolio by launching 26 new models by FY30, including 20 internal combustion engine vehicles and six EVs. The company is the export hub for emerging markets in Latin America and Africa. But the management is also open to exploring export opportunities in advanced countries such as Australia. Export sales volume is expected to increase to 30% of total sales in the long term from 21% at FY25-end, but this would also depend on how domestic sales evolve. If Hyundai's valuation is compared with larger peer Maruti, based on Bloomberg consensus estimates for FY26, it throws some interesting data. Both quote at a price-to-earnings multiple of about 25x, but Hyundai is cheaper on an EV/Ebitda basis at 15x versus 19x for Maruti. What gives? Maruti's other income is far higher, whereas its depreciation cost as a percentage of Ebitda is lower. Both these factors have a positive influence on its net profit. Hence, the right metric for valuing the core performance of both companies is EV/Ebitda. Also read | EVs hit with falling resale value as consumer demand cools
Time of India
06-05-2025
- Automotive
- Time of India
MG Windsor Pro EV Launch Live Updates: Features, range, price & more upgrades
11:14 (IST) May 06 JSW MG Motor India is all set to launch the Windsor EV Pro today, May 6. The Windsor EV has already made waves in the Indian EV market, clocking over 20,000 units since its debut in September 2024. Currently it is sold in three variants- Excite, Exclusive, and Essence - priced between Rs 14 lakh and Rs 16 lakh (ex-showroom). The new Pro version will pack in more tech, features, and performance to challenge rivals like the Creta EV and Tata Curvv.
