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Mint
an hour ago
- Automotive
- Mint
Hyundai Motor logs 4th straight profit drop, loses No. 2 sales spot to Mahindra
Hyundai Motor India Ltd (HMIL) recorded a fourth straight year-on-year decline in quarterly profit for the April-June period, hurt by high discounts and losing its second position in domestic sales to closest rival Mahindra and Mahindra Ltd. The Indian subsidiary of Korean giant Hyundai recorded a net profit of ₹ 1,369 crore in the first quarter of the financial year ending March 2026, a drop of 8% compared to the year-ago period, it said in an exchange filing on Wednesday. The company attributed the profit decline to shrinking margins as earnings before interest, tax, depreciation and amortization margin (Ebitda) fell 20 basis points to 13.3%. This margin contraction was on account of elevated discounts of around 3% during the first quarter to stir up demand for cars. Since listing in October 2024, the Gurugram-based Hyundai India has not had a single quarter where its profit has grown. In the previous four quarters, it has seen profits fall in the range of 8% to 19%. Revenue during the quarter fell 5% to ₹ 16,628 crore, with the company's domestic car sales sliding 11% to 132,259 units, trailing Mahindra's 22% increase to 152,067 units. India's largest passenger vehicle manufacturer Maruti Suzuki India Ltd sold 430,889 cars in the country in April-June, 5% less than a year ago. Passenger vehicle sales in the first three months of FY26 fell 1% to 1.01 million units, according to data from Society of Indian Automobile Manufacturers. Shares of Hyundai Motor closed about 0.8% lower at ₹ 2,084.95 apiece on the BSE on Wednesday. In a post-results interaction with the media, the management acknowledged that the demand environment in the country has been tough, hurting its sales. 'Things were quite tough,' chief operating officer Tarun Garg told reporters, before pointing to the tailwinds on the horizon such as interest rates cuts that could stimulate demand and the festive season kicking off soon. Unsoo Kim, managing director at Hyundai Motor India, expects a gradual recovery in demand for cars. 'Moving forward, we anticipate gradual recovery in domestic demand sentiments, driven by onset of monsoon and festive season coupled with government policy measures, while on the exports front, we are confident to maintain a positive momentum, in line with our growth commitments,' Kim said. The management aims to target rural markets, which are likely to revive after plentiful monsoon rains, and salary earners who will benefit from interest rate cuts. Garg noted that in the months ahead, the discounts will not see any significant rise as the company targets sustainable growth. Analysts said that near-term challenges are expected to persist for Hyundai Motor India, but there are reasons to be optimistic. 'Hyundai's margins, while lower YoY, outperform expectations, driven by an improved volume mix and cost optimization initiatives,' Mrunmayee Jogalekar, auto research analyst at Asit C Mehta Investment Intermediates Ltd, said. While the company struggled in the domestic market, its international sales were reasonably good. Hyundai sold 48,140 cars in the global markets, registering a 13% year-on-year rise in the April-June period, and preventing a larger hit to its margins. The company is banking on its plans to launch 26 new models as well as facelifts till 2030 to get into a fast-growth lane. To a question on loss of market share, Garg pointed out that registration data on the government's Vahan portal indicates that the company is gradually getting its ground back. 'In April our market share was 12.6%, in May it was 12.7% and in June it was 12.9%. With two days remaining in July, we are set to cross 13% in the month,' he said. In a report dated 10 July, analysts at Nuvama Institutional Equities noted that new launches by Hyundai ahead will help it make a gradual comeback in terms of market share. 'HMI is gunning for 26 launches by FY30E, including seven–eight new models. Over the next 18 months, we expect a new compact SUV, a micro E-SUV and multiple refreshes, ratcheting up HMI's domestic market share by ~1pp (percentage point) to 15% by FY28E,' Raghunandhan NL, Manav Shah and Rahul Kumar of Nuvama wrote.


Indian Express
4 days ago
- Automotive
- Indian Express
K-shaped market: Small cars in slow lane as first-time buyers seek premium SUVs
AMID DWINDLING CAR sales at the entry level, the market is witnessing a remarkable transformation as it sees a sharp uptrend in favour of premium models at the mid-level segment and above. Hyundai Creta, a premium feature-laden mid-segment SUV with prices starting at Rs 11 lakh-plus, has emerged as the country's top selling car in June 2025. With Maruti's Ertiga, a Multi-Utility Vehicle, the two accounted for almost two-thirds of all cars sold in the month. What is also remarkable is that nearly one in three Creta buyers is a first-time car owner. Officials in Hyundai said the contribution of first-time buyers in Creta's customer base has gone up sharply to 29 per cent in 2024 from just 12 per cent in 2020. The car market has had a mixed year in 2024-25. While it hit a new sales peak at 4.3 million, the growth was sluggish at just around 3 per cent, primarily due to the continuously declining sales of entry level cars. But other interesting trends unfolded during the year: in terms of powertrains, CNG overtook diesel for the first time ever. The rural share crossed 40 per cent, again a new high. While sports utility vehicles or SUVs continue to lead, the fastest growing segment was the MPVs (Multi-Purpose Vehicles), with rural or suburban sales accounting for a major chunk. Hatchbacks accounted for less than a quarter of the market, a new low. Hatchbacks and sedans put together, was less than a third of the market, and utility vehicles (SUVs, MPVs and vans combined) account for nearly 70 per cent. First-time buyers are picking the more expensive SUV or MUV. But the industry is divided on who exactly is a first-time buyer – individual who buys her or his first car or a family getting its first car? These are not the same. In Creta's case, it is both, with monthly income ranging from Rs 50,000 to Rs 2 lakh. What is certain though is a clear move towards premiumisation. According to Tarun Garg, Whole-time Director & Chief Operating Officer, Hyundai Motor India Ltd, the contribution of high-end features like ADAS-enabled cars increased almost six times to account for 15 per cent of Hyundai's overall sales in 2024. Also, 50 per cent of all cars Hyundai sells is equipped with a sunroof. 'Furthermore, we are introducing high demand premium features in lower variants across models facilitating a wider audience to get a taste of advanced technology-led mobility features,' Garg said. But in case of the UV segment, customers are said to be largely opting for base variants or those just above the base, primarily reflecting the propensity to eke out maximum bang for the buck. The entry-level car segment is in a bad shape, primarily due to two factors: higher price tag of Rs 4 lakh-plus due to better safety norms including six airbags, and sluggish income growth in the lower end of consumer base. The bigger problem is that an entry-level car costs nearly four times the prices of a scooter or motorcycle. Slowing consumption growth is a trend that seems to be getting entrenched, despite some signs of recovery in rural areas. While real wage growth for rural agricultural and non-agricultural workers is providing some support to overall consumption growth, in the urban areas, new demand is simply not picking up to the levels seen in the post-Covid phase. As a result, corporates are seeing their performance tapering off, especially in urban centres. Over the past decade, sales of small cars have steadily declined, and in recent years, more and more consumers are opting for the more expensive mid-segment cars. This could reflect rising aspirations of first-time buyers, but also erosion of purchasing power at the lower end of the consumer pyramid. Car companies are figuring it out. According to industry data, sales performance of entry-level cars priced below Rs 5 lakh – a crucial indicator of demand in the economy given that this segment largely attracts first-time buyers – is dire. This segment used to account for nearly a million units a decade ago – 9,34,538 to be precise in FY16. It has since declined to just 25,402 units in FY25. The Maruti Suzuki Alto, for instance, sold more than 18,700 units in June 2019, and was the best-selling then. In June 2025, the Alto and S-Presso combined sold a little over 6,000 units. Creta, a mid-segment car, on the other hand ranked number in the charts selling 15,786 units in June this year. Despite being the top-selling car, its June sales were less than the average monthly sale of 16,239 in the last financial year. A veteran industry executive said this is 'clearly a K-shaped curve in car buying habits in India'. In April-June 2025, passenger vehicle sales declined 1.4 per cent over the same quarter last year, and passenger car sales declined by more than 11 per cent in the same period. As such, not only is the expected graduation in a growing economy from two to four wheelers not happening, the former's growth itself is stalling. The two-wheeler segment sales dropped 6.2 per cent to 46.74 lakh units in April-June 2025, pulled down by motorcycles and mopeds. When juxtaposed, suggests a dwindling of purchasing power at the lower and middle-class segments In the cars' segment, it is the utility vehicles, which are not exactly entry level, or affordable, cars for a majority of Indians, that are saving the auto sector from a complete meltdown, a trend highlighted by the likes of the Creta and Ertiga being among the top sellers in June, accounting for nearly 66 per cent of all cars sold. According to data collected by the NGO People Research on India's Consumer Economy – which some carmakers refer to internally – car penetration in Indian households that have a yearly income of less than Rs 4 lakh reduced to 1.4 per cent in FY20, from 1.9 per cent in FY16. Car penetration in households that earn between Rs 4 lakh to Rs 7 lakh annually also reduced to 8.3 per cent from 12.1 per cent in the same time period. Families with incomes of less than Rs 4 lakh and between Rs 4 lakh and Rs 7 lakh are said to make up for around 80 per cent of all Indian households. Though FY20 was the latest data available with a carmaker, they said the trend has not changed in the subsequent years. Soumyarendra Barik is Special Correspondent with The Indian Express and reports on the intersection of technology, policy and society. With over five years of newsroom experience, he has reported on issues of gig workers' rights, privacy, India's prevalent digital divide and a range of other policy interventions that impact big tech companies. He once also tailed a food delivery worker for over 12 hours to quantify the amount of money they make, and the pain they go through while doing so. In his free time, he likes to nerd about watches, Formula 1 and football. ... Read More Anil Sasi is National Business Editor with the Indian Express and writes on business and finance issues. He has worked with The Hindu Business Line and Business Standard and is an alumnus of Delhi University. ... Read More


Hans India
22-07-2025
- Automotive
- Hans India
Hyundai CRETA - A Decade of Trust, Innovation & Undisputed Leadership
In a moment steeped in pride, legacy and emotion, Hyundai Motor India Ltd. (HMIL) celebrates 10 glorious years of the Hyundai CRETA in India. What began in July 2015 as HMIL's bold step into the Mid-SUV segment, has today become a name synonymous with power, style and aspiration across 1.2 million Indian households. Since its debut, the Hyundai CRETA has become a phenomenon. Such is its impact that the mid-size SUV segment is now often referred to as the 'CRETA segment' in the country. Despite increased competition, the Hyundai CRETA continues to lead from the front, maintaining its undisputed No.1 position in the country every completed year since its launch in 2015. Speaking on the milestone, Unsoo Kim, Managing Director, Hyundai Motor India Ltd., said, 'The journey of Hyundai CRETA is deeply emotional, not just for us, but for every customer who made it a part of their lives. It stood for dreams, freedom and progress. CRETA is not just a product, it is a revolution on wheels. Over the past 10 years, it has become the gold standard for the Indian SUV buyer. Every milestone in Creta's journey reflects Hyundai's commitment to innovation, quality and customer-first thinking. As we mark 10 years of CRETA in India, we celebrate a movement that changed the way India drives SUVs. We are humbled by the love, trust and loyalty our customers have shown us, and we remain committed to raising the bar, always.' Speaking on the CRETA's 10-year milestone, Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India Limited, said, 'Hyundai CRETA is more than a model, it is a living legacy, crafted with care, evolved with technology and backed by millions of customers who made it their own. The Hyundai CRETA represents ambition, progress and trust. As India's SUV ambitions grew, CRETA too grew with them and if I may dare say often grew ahead of these ambitions. From just 2 models in 2015 to 12 models today, the mid-SUV segment has become fiercely competitive, yet Hyundai CRETA continues to lead, grow and define the category it helped create. Today, as we reflect on a decade of innovation, leadership and unwavering customer trust, Hyundai reaffirms its commitment to delivering mobility that is smart, sustainable and inspired by humanity.' Hyundai CRETA By the Numbers – A Journey of Undisputed. Ultimate Leadership · Annual sales of CRETA have more than doubled since its launch (92,926 units in CY 2016 to 186,919 units in 2024) setting new benchmarks in demand and desirability. · Over 1.2 million CRETAs have been sold in India, an unparalleled feat in the mid-size SUV space. · CRETA dominates the Mid-Size SUV segment with over 31% market share in Indian automotive industry · The sunroof powered variants contribute about 70% to CRETA sales (Jan-June 2025) · In CY2025 (Jan–June), Hyundai CRETA has been the best-selling SUV in India and has emerged as the top-selling model across all categories in 3 out of 6 months this year. · The contribution of first-time buyers in Hyundai CRETA has gone up from 12% in 2020 to 29% in 2024 · Available in Petrol, Diesel, Turbo and Electric powertrain options, the Hyundai CRETA offers both Manual and automatic transmission options · The made-in-India CRETA is exported to over 13 countries and so far, HMIL has exported over 2.87 lakh units. Now in its second generation, Hyundai CRETA has redefined benchmarks, evolving from a breakthrough model to an icon of India's SUV landscape. Over the past decade, Hyundai CRETA's journey has been defined not merely by the launch of new variants, but by its relentless evolution to align with the dynamic preferences of modern consumers. With a commitment to staying ahead of the curve, Hyundai has consistently introduced meaningful updates to CRETA's features, powertrain, transmission and technology. In addition to its regular upgrades, Hyundai rolled out two special editions - the Knight Edition and the Adventure Edition. Each was meticulously crafted to reflect diverse lifestyles and aspirations, striking a chord with a wide range of customers. Both special editions proved to be success stories, capturing the imagination of consumers and reinforcing CRETA's versatility and appeal. Over the years, Hyundai CRETA has exceeded its identity as just an SUV, it has become an emotion, a symbol of aspiration that resonates deeply with every SUV enthusiast. Hyundai CRETA's brand positioning also evolved powerfully with each generation, mirroring its rising success and the bold disruptions it brought to the SUV segment. First launched in 2015 as 'A Perfect SUV,' the tagline set the tone for excellence. In 2020, the second-generation CRETA elevated its identity with 'The Ultimate SUV.' This evolution further elevated with the update launch in 2024, proudly earning the tagline of 'The Undisputed Ultimate SUV.' Celebrating the 10th anniversary of Hyundai CRETA, HMIL has planned a series of activities like: • UGC contest – To celebrate 10th anniversary of its iconic SUV, the Undisputed Ultimate CRETA, HMIL launched 'CRETA X Memories' user-generated digital contest campaign. The nationwide contest invites Hyundai CRETA owners and fans to share their most cherished memories with the SUV and get a chance to win exciting prizes like meet and greet with Ms Deepika Padukone or winning an Apple IPhone among others. • A powerful manifesto film capturing the 10-year legacy of Hyundai CRETA. To be supported by a digital and print campaign • Legacy Drive – To celebrate 10 years of CRETA, HMIL will be hosting a grand celebration CRETA Legacy Drive exclusively for the proud CRETA owners. The 100 CRETA convoy drive will flag off from Hyundai Motor India Limited (HMIL) Headquarters in Gurgaon on 26th July 2025. The journey of Hyundai CRETA reflects Hyundai dedication to continuous innovation, quality and customer centricity. As the CRETA completes a decade of dominance, it stands not just as an icon of success, but as a symbol of what's next for India's SUV aspirations.


India Today
21-07-2025
- Automotive
- India Today
This Hyundai SUV completes a decade of dominance in India's SUV landscape
Marking a significant milestone in India's automotive history, Hyundai is celebrating 10 years of its mid-size SUV, the Hyundai Creta, one of the most iconic and best-selling SUVs in the country. Since its launch in July 2015, the Creta has transformed the mid-size SUV segment, becoming a household name with over 12 lakh units sold across India. In fact, the segment is now often referred to as the 'Creta segment,' owing to the model's sheer dominance and began as Hyundai's bold foray into the mid-size SUV market has grown into a decade-long legacy defined by innovation, performance, and customer trust. The Creta has maintained its position as the top-selling mid-size SUV in India for every completed year since its debut, a rare feat in one of the most competitive automotive segments. "The journey of Hyundai Creta is deeply emotional, not just for us, but for every customer who made it a part of their lives. It stood for dreams, freedom and progress. Creta is not just a product, it is a revolution on wheels," said Unsoo Kim, MD of Hyundai Motor India Ltd. ' The latest Creta The numbers speak volumes. Annual sales of the Creta have more than doubled over the years, from 92,926 units in 2016 to 1,86,919 units in 2024. It currently holds a commanding 31% market share in the mid-size SUV segment and has emerged as the top-selling vehicle across all segments in three out of the first six months of 2025. Around 70% of current sales are from sunroof-equipped variants, and the contribution of first-time buyers has grown significantly from 12% in 2020 to 29% in 2024, highlighting its growing appeal among new-age customers. The Creta's powertrain versatility is another standout, offering petrol, diesel, turbo, and even electric options with both manual and automatic transmissions. Made in India, the Creta is exported to over 13 countries, with nearly 2.87 lakh units shipped globally. The SUV has seen continuous evolution in both design and features, with special editions like the Knight Edition and Adventure Edition successfully catering to diverse customer preferences. Hyundai Creta Electric Hyundai has also built strong brand identity with the Creta. From the original tagline of 'The Perfect SUV' in 2015, to 'The Ultimate SUV' with the second-generation launch in 2020, and now 'The Undisputed Ultimate SUV' in 2024, the Creta's image has grown in tandem with its market on this journey, Tarun Garg, Whole-Time Director and COO at HMIL, said, 'Hyundai Creta is more than a model, it is a living legacy, crafted with care, evolved with technology and backed by millions of customers who made it their own. The Hyundai Creta represents ambition, progress and trust. As India's SUV ambitions grew, Creta too grew with them and if I may dare say often grew ahead of these ambitions." The first generation Creta was launched in 2015. (Photo: AFP) To commemorate the 10th anniversary, Hyundai has lined up a series of engaging activities. These include a nationwide UGC campaign called 'CRETA X Memories,' inviting owners to share their fondest moments with the SUV for a chance to win prizes such as an iPhone or a meet-and-greet with Hyundai brand ambassador Deepika Padukone. A manifesto film will also be launched to capture the emotional and aspirational legacy of the Creta. Additionally, a grand Creta Legacy Drive will be flagged off from HMIL's Gurugram headquarters on July 26, featuring a 100-car convoy celebrating proud Creta its internal combustion engine (ICE) variants, the Hyundai Creta is offered with naturally aspirated petrol, turbocharged petrol, and diesel powertrains. A sportier option, the Creta N Line, is also available for performance enthusiasts. Bollywood actor Shah Rukh Khan with the second-generation Creta launched in 2020. The 1.5-litre MPi petrol engine produces 115 bhp and 144 Nm of torque and is paired with a 6-speed manual transmission. The 1.5-litre Kappa Turbo GDi petrol unit delivers 160 bhp and 253 Nm, mated to a 7-speed dual-clutch automatic gearbox. Meanwhile, the 1.5-litre U2 CRDi diesel engine generates 116 bhp and 250 Nm, with transmission options including a 6-speed manual and a 6-speed automatic. The Creta N Line uses the same 1.5-litre turbo petrol engine but offers both 6-speed manual and 7-speed DCT its electric avatar, the Creta comes with two battery pack options: 42kWh and 51.4kWh, delivering a range of 390 km and 473 km respectively on a full to Auto Today Magazine- EndsTrending Reel


News18
15-07-2025
- Automotive
- News18
FDCI Unveils Star-Studded Line-Up For India Couture Week 2025
FDCI and Hyundai kick off the 18th edition of India Couture Week with a grand launch blending fashion, innovation, and star designers. The Fashion Design Council of India (FDCI) and Hyundai Motor India Ltd., in partnership with Reliance Brands, proudly unveiled the 18th edition of Hyundai India Couture Week 2025 at a high-profile press conference held at Taj Palace, New Delhi. Marking Hyundai's third consecutive year as the title sponsor, the event reaffirmed the brand's unwavering commitment to innovation, design excellence, and its synergy with Indian couture. This year's edition is particularly special as it also celebrates the 10th anniversary of the Hyundai CRETA, with the much-anticipated CRETA EV slated to be showcased during the couture week. The press conference was graced by industry stalwarts including Sunil Sethi, Chairman, FDCI; Tarun Garg, Whole-Time Director & COO, Hyundai Motor India Ltd.; J.T. Park, Executive Director (Sales, Marketing & Service), HMIL; and Virat Khullar, Group Head Marketing, HMIL. The afternoon began with a curated lunch reception, followed by an elegant welcome address. Sunil Sethi delivered the keynote speech, celebrating the deep-rooted partnership between the automotive and fashion industries. 'Hyundai India Couture Week continues to be the most anticipated platform celebrating the mastery and evolution of Indian couture. We are proud to partner with Hyundai for the third consecutive year in showcasing this fusion of design and innovation. My heartfelt thanks to our participating designers for their creativity and craftsmanship, and to Reliance Brands for their steadfast support in bringing this vision to life," says Sunil Sethi, Chairman, FDCI. A highlight of the event was a live runway presentation featuring one signature ensemble from each participating couturier, revealed in tandem with the official announcement of the designer lineup. This dramatic unveiling offered guests a sneak peek into the exquisite artistry that awaits during the week-long celebration. The 2025 couture week boasts an iconic lineup, including Rohit Bal, JJ Valaya, Manish Malhotra, Ritu Kumar, Tarun Tahiliani, Amit Aggarwal, Falguni Shane Peacock, Rahul Mishra, Shantnu & Nikhil, Suneet Varma, Rimzim Dadu, Jayanti Reddy, Rose Room by Isha Jajodia, and Aisha Rao. Select designers also took to the stage to share insights into their creative process and vision for this year's collections. The press conference concluded with a grand photo opportunity featuring key dignitaries and couturiers, capturing the spirit of creative collaboration and celebration. Hyundai India Couture Week 2025 is further elevated by the support of luxury lifestyle brands Grey Goose Altius and Kohler, whose associations promise to enhance the immersive couture experience for guests and fashion lovers alike.