Hyundai explores ways to pass on benefits of tax cut to customers
5 years, 3 months ago

Hyundai explores ways to pass on benefits of tax cut to customers

Live Mint  

Hyundai Motor India Ltd—the country’s second largest vehicle manufacturer—is exploring ways to pass on the benefit of the corporate tax reduction to potential customers. According to Vikas Jain, national sales head, Hyundai Motor India, after 20 September, enquiries from potential customers increased sharply and bookings of some of the vehicles rose by almost 50%. To revive consumption demand in the domestic market, the government had on 20 September reduced corporate tax rates from 30% to 22% to boost consumer demand and increase spending by private companies. Earlier, the Union government also mandated its departments to buy new vehicles to increase demand and also assured potential customers that BS-IV vehicles will be allowed to run for its entire registration period.

Tax Vehicles Sales Vehicle Jain Customers Hyundai Potential Customers  pass  ways  india  reduction  explores  cut  sales  customers  benefits  tax  vehicles  increase  hyundai  vehicle  potential

History of this topic

Hyundai Motor India to raise car prices by up to ₹25,000 across models from January 2025 due to rising costs
1 month ago

Hyundai Motor India to raise car prices by up to ₹25,000 across models from January 2025 due to rising costs

Live Mint  

Hyundai Motor India on December 5 said that it will hike prices of all its cars by up to ₹25,000 from January 2025, due to rising costs impacting profitability, according to a Reuters report. “At Hyundai Motor India, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers. About Hyundai Motor India …

Hyundai India struggles to steer past margin woes
1 month, 2 weeks ago

Hyundai India struggles to steer past margin woes

Live Mint  

Hyundai Motor India Ltd’s lukewarm stock market debut in October was followed by an equally underwhelming maiden quarterly performance. Read this | Maruti Suzuki banks on SUVs, CNG models to beat demand blues Hyundai India’s management anticipates low single-digit growth in the domestic passenger vehicle industry in FY25, citing a high base for previous year and ongoing near-term macroeconomic challenges. …

Hyundai avails Rs 1,200 crore tax exemptions in FY23
6 months, 3 weeks ago

Hyundai avails Rs 1,200 crore tax exemptions in FY23

New Indian Express  

NEW DELHI: Hyundai Motors India, which is looking to raise Rs 25,000 crore through public issue of shares, has availed tax exemptions and government incentives worth Rs 886 crore in the first nine months of 2023-24, the draft red herring prospectus of the company showed. These incentives include electricity tax exemptions, investment promotion subsidies in the form of state GST …

No bumper offers on new cars this festive season
2 years, 4 months ago

No bumper offers on new cars this festive season

The Hindu  

Buyers looking for exciting discounts and offers on purchase of new automobiles during the festival season this year are likely to be disappointed as demand for new cars is anticipated to exceed their supply. The industry expects limited discounts and offers, that too largely for vehicles seeing low demand, such as in the entry-level hatchback segment, with waiting periods for …

Toyota says committed to India market, industry seeks viable tax structure
4 years, 3 months ago

Toyota says committed to India market, industry seeks viable tax structure

Live Mint  

MUMBAI: Toyota Kirloskar Motor India Pvt Ltd on Tuesday said the auto industry seeks a viable tax structure to sustain in the wake of the pandemic-induced slowdown. The company continues to be committed to the Indian market and its operations in the country remain an integral part of its global strategy, the maker of Innova and Fortuner utility vehicles said, …

Toyota halts India expansion, blaming ‘we don’t want you’ taxes
4 years, 3 months ago

Toyota halts India expansion, blaming ‘we don’t want you’ taxes

Live Mint  

Toyota Motor Corp. won’t expand further in India due to the country’s high tax regime, a blow for Prime Minister Narendra Modi, who’s trying to lure global companies to offset the deep economic malaise brought on by the coronavirus pandemic. The government keeps taxes on cars and motorbikes so high that companies find it hard to build scale, said Shekar …

Hyundai Motor India Reports 20 Percent Growth in Domestic Sales in August
4 years, 4 months ago

Hyundai Motor India Reports 20 Percent Growth in Domestic Sales in August

News 18  

Hyundai Motor India Ltd on Tuesday reported a 6.06 per cent decline in total sales at 52,609 units in August. Domestic sales, however, were up 19.9 per cent to 45, 809 units as against 38,205 units in August 2019, the company added. “The company continues humbly to contribute to the recovery of Indian automobile industry by registering domestic sales volume …

Reduced prices, festive offers to accelerate auto sales
5 years, 3 months ago

Reduced prices, festive offers to accelerate auto sales

India TV News  

The steps taken to reverse the economic slowdown, along with the upcoming festive season offers, might have the potential to accelerate the automobile sector's sales growth, industry insiders opined. The trend of reduced prices on the back of recent corporate tax sops is expected to catch-up after car market leader Maruti Suzuki cut prices on Wednesday. Last month, Finance Minister …

Automakers should approach the state govts to form a consensus on GST rate, says Anurag Thakur
5 years, 4 months ago

Automakers should approach the state govts to form a consensus on GST rate, says Anurag Thakur

Live Mint  

New Delhi: The union government will stand by the automobile industry and will take steps to stimulate demand in the months to come, said Anurag Thakur, minister of state, Ministry of Finance and Corporate Affairs, during the 59th annual session of the Automotive Component Manufactures Association of India. Taking a cue from the assertions of Finance Minister Nirmala Sitharaman, the …

Hyundai Motor India sales drop 3.2 per cent to 58,807 units in June 2019
5 years, 6 months ago

Hyundai Motor India sales drop 3.2 per cent to 58,807 units in June 2019

India Today  

Hyundai Motor India has reported a 3.2 per cent decline in cumulative sales to 58,807 units in June 2019. The export sales grew by 9 per cent to 16,800 units in June 2019. Among the vehicles sold by Hyundai Motor India are Santro, Grand i10, Elite i20, Verna, Elantra, Venue and Creta. Hyundai's rival Maruti Suzuki India has reported a …

Discover Related