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Hyundai Motor India has continued to witness growth in the SUV market, COO and Whole-Time Director Tarun Garg said in an interview with Storyboard18's sister publication CNBCTV18.com. Garg said that sports utility vehicles (SUVs) make up 70 percent of their sales.

The maker of Venue, Alacazar, and Creta among others, HMI has maintained its SUV market share at a steady 18 percent (approx), showing no sign of decline, Garg added.

Hyundai's SUVs accounted for 67 percent of the company's sales from January to September 2024. Garg said that in September alone, the figure rose to 70 percent. The automaker's rural penetration matches the 67 percent-mark, the COO told CNBC TV8.

	
<a href="https://www.storyboard18.com/advertising/hyundai-motor-india-increases-ad-budget-as-ipo-nears-eyes-trusted-brand-positioning-44763.htm">Hyundai Motor India increases ad budget as IPO nears, eyes trusted brand positioning</a>

HMI is set to make a debut in the Indian stock market this month. The 27,870 crore initial public offering (IPO) of the company opened for subscription on Monday 15 October and will conclude on October 17.

According to the COO, the IPO funds will aid in expanding the company's electric vehicle segment. Hyundai's Indian arm has planned three launches in the EV segment, he added.

Acknowledging competition with brands like Kia and others, Garg exuded confidence in Hyundai's position, citing the continued success of Creta. The model has sold around 15,000 units per month, positing double-digit growth.

HMI, established in May 1996, is a part of Hyundai Motor Group. The HMIL's vehicle lineup includes sedans, hatchbacks, SUVs, and electric vehicles (EVs), featuring models such as the Grand i10 NIOS, i20, i20 N Line, AURA, Elantra, Venue, Venue N Line, Verna, Creta, Creta N Line, Alcazar, Tucson, and the all-electric SUV Ioniq 5. As of December 31, 2023, HMIL had partnerships with 363 dealer companies for distribution and sales in India.

The price band of Hyundai Motor IPO is between Rs 1,865 and Rs 1,960 per share. The company's value is pegged at around Rs 1.6 lakh crore post-IPO.

Hyundai Motor India accelerates in SUV market, eyes growth with IPO, EV expansion: COO Tarun Garg

Hyundai Motor India Ltd, which is preparing for its upcoming IPO, has significantly increased its spending on advertising and marketing over the last two fiscal years. The automaker has affirmed its commitment to continue these efforts in order to strengthen its position as a trusted brand in the Indian market.
The Indian arm of the South Korean automaker is set to make a debut in the Indian stock market in just 10 days.

Hyundai Motors's IPO size is pegged at Rs 27,870.16 crore. The maker of the Creta car has set a price band of Rs 1,865-1,960 per share. The issue will open on 15 October 2024 and conclude on 17 October. 

According to the Draft Red Herring Prospectus (DRHP), submitted to the Securities and Exchange Board of India (Sebi) in June this year, Hyundai Motors has spent Rs 677 crore on advertisement and sales promotion on a standalone basis in fiscal year 2023 (FY23). The ads expenses saw an increase of 37.66 percent in contrast to FY22 expenditure at Rs 491 crore driven by campaigns exhibitions and new launches.

<a href="https://www.storyboard18.com/advertising/swiggys-ad-spend-drops-26-to-rs-1850-79-crore-in-fy2024-to-cost-effectively-invest-in-marketing-43347.htm">Swiggy’s ad spend drops 26% to Rs 1850 crore in FY2024; to ‘cost-effectively’ invest in marketing</a>

Hyundai has planned to invest in targeted marketing campaigns through digital media initiatives, sponsorships, television advertisements, gaming shows, and sporting events and celebrity endorsements in the future.

In the DRHP, the automaker mentioned, "We collaborate with our dealers for promotion and advertising through various media and supply dealers with promotional materials for sales and service marketing". 

	
<a href="https://www.storyboard18.com/how-it-works/rs-580-bn-boom-indian-digital-ad-spending-set-to-surge-15-9-this-festive-season-41419.htm">Rs 580 bn boom: Indian digital ad spending set to surge 15.9% this festive season</a>

As of December 31, 2023, Hyundai Motor India had partnerships with 363 dealer companies for distribution and sales in India.
Notably, Hyundai's advertising expenses lag significantly behind those of its rival, Maruti Suzuki India. The Indian subsidiary of Japanese automaker Suzuki Motor Corporation spent Rs 947 crore on advertisement and sales as compared to Rs 668 crore in FY 2022. Additionally, Tata Motors' standalone publicity expenses in FY23 and FY22 stood at Rs 439.7 crore and Rs 321.4 crore, respectively.

Hyundai Motor India increases ad budget as IPO nears, eyes trusted brand positioning

Motorcycle manufacturing company Royal Enfield posted 11% year-to-date growth in sales in September 2024. According to the quarterly earnings, Royal Enfield sold 86,978 units last month as compared to 75,580 units sold during the same month in the previous financial year. 

Domestically, the sales of the motorbike company surged to 79,326 in September 2024 as against 74,261 in the same month last year.

The maker of Hunter 350 witnesses a 77 percent growth in export. RE exported 7,652 bikes in September while last year in the same month, it exported 4,319 bikes.

Separately, Royal Enfield has introduced wire-spoked tubeless wheels for the newly launched Himalayan 450. 

The price of the Himalayan 450 begins at Rs 2.96 lakh with tubeless tyres available for Rs 12,424 for the existing models from October 3 onwards.

The company has also launched lifestyle apparel and riding gear for women due to the rise in women riders in the country. Some of the key offerings, specifically for women riders are 'Street wind jacket' priced at Rs 6,500. The other collections included gloves, boots, etc ranging from Rs 1,500 to Rs 10,000.

Royal Enfield posts 77% growth in exports, sells 7,652 bikes in September

Bajaj Auto sold 2,59,333 two-wheelers in the domestic market in September 2024. The company has witnessed a 28% growth in sales of two-wheelers in September 2024 as against 2.02 lakh units sold in the same month in 2023.

The company's exports also rose to 1.41 lakh units, recording a 13% increase in September 2024 versus 1.25 lakh units in September 2023.

In total, Bajaj Auto sold 4,69,531 units of two-wheeler and commercial vehicles in September 2024. Last year, in the same month, the overall vehicle sales stood at 3,92,558 units.

Bajaj Auto sold 19,84,125 units of two-wheelers, including exports between April and September 2024. 

The commercial vehicle sales stood at 3,39,435 units in the same span.

The company's sales have increased by 16% and 9% in domestic and commercial vehicle segment in the first-half of FY25.

Overall, Bhaja Auto's two wheelr and commercial vehicle sales increased by 12% to 23.23 lakh units between April and September of FY25. The company sold 20.81 lakh units in the same period last fiscal year.

On Monday, Bajaj Auto announced a festive offer for its Pulsar range. As part of the limited-time offer, customers can save up to Rs 10,000, including cashback benefits on select models.

The offer includes a direct cashback of up to Rs 5,000 on select Pulsar models ( Pulsar 125 Carbon Fiber, NS125, N150, Pulsar 150, N160, NS160, NS200, and N250.). Customers can avail of additional benefits by opting EMI option using HDFC Credit Cards through Pine Labs machines at Bajaj dealerships.

Share of Bajaj Auti declined by 1.79% to Rs 12,124.85 on the BSE at 12.52 pm on Tuesday.

Bajaj Auto sells over 2,59,000 two-wheelers in India in Sept 2024

The Federation of Automobile Dealers Associations (FADA), the apex body championing the interests of India's Automobile Retail Sector, in collaboration with Frost & Sullivan, the Growth Pipeline Company, has announced the results of the 2024 Customer Experience Index (CEI), an annual study.


Study Background:


The primary objective of this comprehensive study was to assess and quantify customer experience across sales, after-sales service and product quality in the passenger vehicle category. The study highlights the key drivers of experience, providing valuable insights for the automotive industry.


The respondents were carefully selected to represent a broad demographic of vehicle owners. The profile includes males and females aged 18 years and above, all of whom are primary users and primary or occasional drivers of personally owned vehicles. Importantly, the primary vehicle in question must be 'new' at the time of acquisition and the respondents must have been involved in the decision-making process for its purchase.


The study further categorized respondents into two distinct groups:


vehicle bought from an authorized dealer within last 12 months (May’23 to May’24) for the "Sales & Product Quality" and
those who purchased their vehicle between 2021 and 2023, having availed after-sales services within the last six months, for the "After-Sales Service" category.


CEI was conducted with a substantial sample size of 8,685 respondents. The sample was divided into two primary categories:


3,683 respondents provided insights into their experiences related to "Sales & Product Quality,"

5,002 respondents contributed to the "After-Sales Service" category.


To further refine the analysis, the sample was stratified by market tier, with:

3,951 respondents from Tier 1 cities,

3,925 from Tier 2 cities, and

809 from Tier 3 cities.


Key Highlights:

Overall Customer Experience Index (CEI) considers 97 attributes across Sales, Product and After-sales experiences, each having a weightage of 25%, 25% and 50%, respectively.

Mass Market Brands: Kia leads the mass market segment with a score of 45.84
Luxury Brands: Audi tops the luxury segment with a score of 48.93

Sales Experience Index (SEI)

Mass Market Brands: Kia ranks highest in sales experience with a score of 52.52 scoring most in test drive experience, responsiveness of sales team, customer relationship management, to name a few.

Luxury Brands: BMW leads with a score of 52.52, ranking highest in availability of roadside assistance, online advertisements, amongst others

Product Experience Index (PEI)

Mass Market Brands: Toyota scores highest in product experience with 45.40. Good resale value, gearshift quality, quality of lights, contributed the most to its ranking.
Luxury Brands: Audi leads with a score of 46.35, ranking highest in vehicle suspension quality, engine power, amongst others.
 
After-Sales Experience Index (ASEI)

Mass Market Brands: Kia ranks highest in after-sales experience with a score of 44.15. It ranked highest in condition of the car delivered, technical knowledge of the after-sales team, responsiveness of the after-sales team, amongst others.

Luxury Brands: Audi leads with a score of 50.51, ranking highest in ease of accessing the team, technical knowledge of the after-sales team, amongst others.

Mr. Vinkesh Gulati, Chairman – FADA Academy & Research commented, “The findings from the Customer Experience Index (CEI) study provides a clear picture of what customers prioritize and value most in their automotive journey. It’s evident that aspects like service, comfort and reliability are at the forefront of customers' minds. These are the core areas where automotive brands are succeeding in meeting customer expectations.

Customers are particularly pleased with the responsiveness and knowledge of sales teams, the performance and reliability of their vehicles and the quality of after-sales workmanship. However, while these areas are currently excelling, they also set a high standard that must be maintained and continuously improved. Notably, customers are increasingly expecting greater reach and accessibility from automotive brands, rather than investing in large infrastructure setups. As we move forward, it is crucial for the industry to not only uphold these strengths but also address the underlying areas of improvement to ensure a consistently exceptional customer experience.”

Mr. Shylesh Narayanan, Country Head, Frost & Sullivan India, added, "The Customer Experience Index (CEI), developed in collaboration with FADA, is unique due to its unbiased random sampling which reflects customer perspectives. This data-driven analysis highlights critical areas for OEMs and dealers to refine their strategies and adapt to evolving customer expectations. This index will also help guide the industry towards a future where brands are distinguished by their feature-rich offerings, exceptional service, and reliability, ultimately fostering superior customer experiences and therefore, loyalty.”

The voice of the customer highlighted the key factors that resonate most with vehicle owners:

"Service" stands out as a dominant priority, indicating that customers place a high value on the quality and reliability of service experiences.
Other important aspects include "Comfortable," "Mileage," and "Features," emphasizing that customers seek vehicles that are not only efficient but also provide a comfortable and well-equipped driving experience.

Words like "Innovative," "Technology," and "Reliable" suggest that customers appreciate cutting-edge advancements and dependability in their vehicles.
The focus on "Brand" and "Premium" highlights the importance of brand reputation and perceived value, while "Affordable" and "Popular" indicate that customers are also mindful of cost and market trends.
 
Overall, the voice of the customer calls for a balanced blend of performance, innovation and service excellence in the automotive sector.

The study also identified key factors or delighters, within each category that significantly enhance customer satisfaction:

Sales Delighters: Among the top delighters in the sales category are the test-drive experience, which allows customers to evaluate the vehicle’s fit and performance firsthand and the responsiveness and knowledge of the sales team, which fosters trust and confidence throughout the purchasing process. Additionally, the ease of transaction and payment processes contributes to a seamless and stress-free buying experience.

Product Delighters: In terms of product attributes, performance and reliability stand out as top priorities, ensuring the vehicle meets expectations in terms of power and dependability. Seat comfort and legroom are also critical, providing a comfortable and enjoyable driving experience. Furthermore, fuel efficiency and good resale value are essential considerations, offering both financial benefits and long-term satisfaction.

After-Sales Delighters: The after-sales experience is enhanced by high workmanship quality, ensuring service and repairs are completed to the highest standards. The ease of appointment scheduling and effective post-service follow-up further improve customer satisfaction by providing convenience and reassurance. Additionally, fair pricing and a straightforward complaint registration process contribute to a transparent and supportive after-sales environment.

Kia leads mass market segment; Audi tops luxury segment: Report

Bajaj Auto has posted an increase of 30% in domestic sales with 2.08 lakh units sold in August 2024. Last year, the company's sales stood at 1.60 lakh in the same month, the company said in a BSE filing on Monday. However, the company saw a marginal rise in domestic sales of its commercial vehicles to 45,206 units in August 2024 from 44,280 in August 2023.

Overall, the domestic sales of two-wheeler and commercial vehicles of the company surged by 24% to 2.53 lakh in August 2024 as against 2.05 lakh in the same month last year.

<a href="https://www.storyboard18.com/brand-marketing/ahead-of-festive-season-maruti-suzuki-reduces-prices-of-alto-k10-s-presso-41083.htm">Ahead of festive season, Maruti Suzuki reduces prices of Alto K10, S-Presso</a>

In a BSE filing, Bajaj Auto recorded an increase of 14% in domestic two-wheeler sales to 9.59 lakh units between April and August 2024 from Rs 8.45 lakh units in the same period last year.

The company's commercial exports climbed by 15% to 74,913 units from April to August 2024 as against 65,423 units in the same duration in 2023. 

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In the recently held Bajaj Auto's Q1 FY25 results conference call, the company's Executive Director Rakesh Sharma said that the revenue from operations grew by 16% to finish under Rs 12,000 crore. The consolidated net profit stood at Rs 1,941.79 crore between April-June 2024. The company said its domestic, business registered its ninth successive quarter of double-digit growth driven by growth across motorcycles, commercial vehicles, and electric scooters portfolio.

Commercial Vehicles delivered over 100,000 units in a quarter for the fourth time in a row, the company added.

Bajaj Auto's domestic 2-wheeler sales up by 30% in 12 months

Maruti Suzuki, on Monday, slashed the prices of select variants of Alto K10 and S-Presso, effective on 2 September 2024. In a BSE filing, the automaker revealed that the price of S-Presso LXI Petrol has been reduced by Rs 2,000 and the cost of Alto K10 VXI Petrol has been reduced by Rs 6,500. 


Notably, MSI recalled 2,555 Alto K10 vehicles in August this year due to a possible defect in the "Steering Gear Box Assembly". The company said the defect may affect the vehicle steerability in a rare case.

<a href="https://www.storyboard18.com/brand-makers/rc-bhargava-says-maruti-will-never-forget-needs-of-indians-who-cannot-afford-expensive-cars-38890.htm">RC Bhargava says Maruti will never forget needs of Indians who cannot afford expensive cars</a>

"Out of abundant caution, customers of the affected vehicles are advised not to drive or use the vehicle till the Part is replaced," Maruti Suzuki said.


In June this year, MSI reduced prices for car models in its Auto Gear Shift (AGS) lineup, such as Alto K10, S-Presso, Celerio, Wagon-R, Swift, Dzire, Baleno, Fronx, and Ignis. 

<a href="https://www.storyboard18.com/brand-marketing/ai-will-be-a-game-changer-in-the-production-of-cars-partho-banerjee-maruti-suzuki-37669.htm">AI will be a game changer in the production of cars: Partho Banerjee, Maruti Suzuki</a>


At that time, Maruti Suzuki informed exchanges that it had reduced the prices of its AGS variants by Rs 5,000.

The automaker also cut the prices of its 'mini and compact' cars segment to Rs 4.99 lakh in June as demand dwindled. 


According to the official data by Maruti Suzuki, WagonR crossed cumulative domestic sales of 30 lakh units in FY24; Dzire posted sales of more than 20 lakh units while Alto reported sales of 40 lakh plus units in the previous fiscal year.

Ahead of festive season, Maruti Suzuki reduces prices of Alto K10,  S-Presso

Honda Motorcycle and Scooter India has surpassed Hero MotoCorp in the domestic wholesale segment as per the dispatch data by the Society of Indian Automobile Manufacturers (Siam). However, in the retail sales of the two-wheeler vehicles, Hero has remained the king. 

As per the Siam data, Honda registered more than 18.53 lakh wholesale despatches in the April-July period, while Hero logged over 18.31 lakh units in the same period.

<a href="https://www.storyboard18.com/brand-marketing/honda-cars-india-registers-total-sales-of-7334-units-in-july24-38666.htm">Honda Cars India registers total sales of 7,334 units in July’24</a>

Meanwhile, TVS clocked 10.8 lakh units between April and July 2024, Bajaj wholesale despatches stood at 7.5 lakh and Suzuki 3.5 lakh units in the same period.

According to a report by Times of India, dealers said that Honda's market share has surged due to Honda Shine 100, which has done well in Uttar Pradesh, Rajasthan, and Madhya Pradesh.

<a href="https://www.storyboard18.com/how-it-works/honda-cars-registers-total-sales-of-10867-units-in-april-30519.htm">Honda Cars registers total sales of 10,867 units in April</a>


In terms of retail sales, Hero MotoCorp clocked over 17.5 lakh units in the April-July period compared to 15 lakh units by Honda Motorcycles & Scooters (HMSI). According to the Federation of Automobile Dealers' Association (FADA), the retail market of HMSI has increased from 20% in April to 24.3% in July, while HeroMotoCorp's market share has dropped from just over 33% in April to 29.4% in July.

Honda overtakes Hero MotoCorp in domestic wholesale segment

Hyundai Motor India Limited (HMIL) total sales declined by 3.21% to 64,563 units in July 2024 as compared to 66,701 units for the corresponding period in the previous year.

On the contrary, the automaker, recorded a 4.30% growth in total sales to 4.50 lakh units between January and July this year. In 2023, the company's total sales between January-July stood at 4.31 lakh units

The company's domestic sales declined by 3.33% to 49,013 units in July 2024 as compared to 50,701 units sold in the same month last year.

The export also witnessed a decline of 2.81% YoY to 15,550 units in July 2024 from 16,000 units.

<a href="https://www.storyboard18.com/quantum-brief/hyundais-women-buyer-percentage-surges-to-11-percent-in-2023-fortified-by-deepika-padukone-partnership-22028.htm">Hyundai's women buyer percentage surges to 11 percent in 2023, fortified by Deepika Padukone partnership</a>

The Indian subsidiary of the South Korean car manufacturer said that SUVs accounted for 66.6% of HMIL domestic sales in the current calendar year as of July 31, 2024. 

Hyundai Creta achieved sales of 1 Lakh units till July since its launch in January this year, the company said.

<a href="https://www.storyboard18.com/brand-marketing/hyundai-launches-new-initiative-to-increase-rural-reach-in-india-29539.htm">Hyundai launches new initiative to increase rural reach in India</a>

The new Creta also registered " highest ever monthly domestic sales of 17,350 units" in July 2024, HMIL added.

“We have posted an overall sales growth of 4.31% Year-on-Year in the period of January to July 2024. SUVs continue to demonstrate a robust contribution, accounting for 66.6% of total HMIL domestic sales. The new Hyundai CRETA achieved key milestones of 1 Lakh unit sales till July 2024, while also achieving highest ever monthly domestic sales of 17,350 units in July 2024," Tarun Garg, Whole-time Director and Chief Operating Officer at Hyundai Motors India Ltd said.

Hyundai's domestic sales dip 3.33% in July, exports down 2.81% YoY

Despite a temporary slowdown, the Battery Electric Vehicles (EVs) sales are likely to hit the 10 million milestone this year, according to a report by Counterpoint. 

The report, "Global Passenger Vehicle Forecast" mentioned that growth in battery EVs will be supported by the revamping of the production process, partnerships with the manufacturers, and bolstering the supply chain.

<a href="https://www.storyboard18.com/quantum-brief/electric-vehicles-hit-15-percent-of-bmws-total-sales-across-the-world-26495.htm">Electric vehicles hit 15 percent of BMW's total sales across the world</a>

At present, China is the dominant force in the 'battery electric vehicle' market, with sales projected to be 4 times that of the US market in 2024, the research projected. 

Besides, China will maintain more than 50% share of global EV sales until 2027 and is expected to register more sales than the US and Europe combined in 2030. 

<a href="https://www.storyboard18.com/how-it-works/ea-sales-in-india-jumped-49-25-percent-year-on-year-to-1529947-units-in-2023-20005.htm">Electric vehicle sales zooms 49 percent to 1.52 million units in 2023</a>

"The EU’s new tariff rates for Chinese EVs aim to level the playing field for European EV manufacturers, which are struggling to compete with lower-priced Chinese imports. These tariffs might push Chinese automakers towards emerging markets like the Middle East and Africa, Latin America, Southeast Asia, Australia, and New Zealand. The outcome of EU-China talks, especially with Germany’s opposition, will shape future EV market dynamics, with Europe and the US driving growth from 2025 onwards," Liz Lee, Associate Director at Counterpoint said.


However, from 2025 onwards, Europe and the US will start emerging as a major growth driver in this segment, the research added.

The Counterpoint report predicted that China's BYD market share would overtake Tesla's EVs in 2024. 


However, research analyst Abhik Mukherjee said that automakers like Volkswagen, Ford, and General Motors are positioning themselves to compete with the market leaders by revamping supply chains and producing affordable EV prices below $35,000. 

The research also predicted that hybrid vehicles, including plug-in hybrid electric vehicles and hybrid electric vehicles, will continue to dominate the electrified segment in the near term.

AUTOMOBILE