#car makers

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[carboomers]

Why Car Makers Discontinue Previous Models Before Launching New Models?

In the ever-evolving automotive industry, car companies continually strive to innovate and introduce new models to meet changing consumer demands. One common practice employed by manufacturers is discontinuing existing car models before launching upgraded variants. This article explores the reasons behind this strategy and whether it is mandatory for car companies to discontinue a model before…

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[go-21newstv]

Hyundai Motor News: Hyundai Motor to launch dedicated EV platform in major push into electric cars | - Times of India

Hyundai Motor News: Hyundai Motor to launch dedicated EV platform in major push into electric cars | – Times of India

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SEOUL: South Korea’s Hyundai Motor Group said on Wednesday it will introduce an electric vehicle-only platform early next year that will use its own battery technology to cut production time and costs. The plan underscores efforts by the world’s No.5 auto group to become a major player in the global EV market, as car makersaround the world are pouring billions of dollars of investment to…

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Car makers revealed for diwali

Car makers revealed for diwali

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Given the strong demand during Deepawali, most car manufacturers reported strong growth in remittances to dealers in October. Market leading company Maruti Suzuki on Sunday said it sold more than 1.63 lakh passenger vehicles in the domestic market in October, up 17.6% from 1.39 lakh vehicles in the month to 2019.

Read also: No GST relief for automobiles

The company said that sales of…

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[sharmaheena850]

Hyundai plans $51 billion investment in 6 years with focus on e-vehicles

Hyundai Motor plans to invest about 61.1 trillion won ($51.81 billion) between 2020 and 2025, about one-third of the expenditure focused on electric and autonomous vehicles, the company said on Wednesday.

The South Korean carmaker unveiled a "Strategy 2025" roadmap that envisaged annual average spending of 10 trillion won, higher than previous years, and up from a 2018 figure of 6.1 trillion won.

Hyundai will devote about 20 trillion won of the total investment, spread across six years, to future technologies, it added.

It also set an ambitious deadline of 2025 to place itself among the world's top three makers of battery and fuel cell vehicles, with annual sales of 670,000 electric vehicles, including 560,000 battery-based cars.

Hyundai shares were up 2 per cent by 01:36 GMT after the announcement, which included a plan to buy back 259.6 billion won worth of common shares. Read More

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'Ride shock' awaits car buyers waiting for better offers ahead of BSVI

Passenger vehicle (PV) buyers looking for hefty discounts till the last month or day before the new emission norms (BS-VI) take effect could be in for disappointment. Let alone a discount, they might not even get the model, variant or colour of choice in

BS-IV-compliant vehicles, said car dealers and automakers.

Though lower than last month, consumer offers on PVs continue in the current month. However, depending on a particular model, fuel type and variant, the offers may not last beyond a month as stock levels at most dealerships have seen significant reduction after Diwali (October 27).

“A lot of models of various brands are already in short supply,” said Sanjay Thakker, chairman, Landmark Group. “Those looking to buy BS-IV models shouldn’t wait.” Landmark is a dealer for Mercedes, Honda Cars, Renault, Nissan, Chrysler, and Volkswagen.

This is a stark departure from the previous years of emission norm change. Manufacturers usually pull out all stops to woo buyers till the last day ahead of the changeover, to make the most of the rush to beat the price hike. Read Full Story