Hyundai vehicles will become costlier by up to Rs 25,000 from the new year. The company has decided to increase the prices due to increase in input costs, exchange rates and logistics. The increased rates will be applicable on all models of the company from January 1, 2025.
Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India Limited (HMIL), said, 'Our endeavor at the company has always been to absorb the rising costs as much as possible, so that our customers are not impacted. However, due to continuous increase in input costs, it has become necessary to make minor adjustments in prices.
Hyundai's sales decreased by 7% and exports by 20% in November.
Huawei sold a total of 61,252 units in November, which is 7% less than the same period last year. In November last year, the company had sold 65,801 vehicles.
At the same time, this decline in the domestic market is of 2%. The company sold 49,451 cars in the Indian market in November 2023, which decreased to 48,246 in November 2024.
Apart from this, there was a 20% decline in the company's exports last month. The company has been able to sell only 13,006 vehicles in the foreign market in November this year compared to 16,350 last year.
Company's profit decreased by 16% in July-September quarter
Hyundai Motor India has made a consolidated net profit of Rs 1,375 crore in the second quarter of the financial year 2024-25. It has decreased by 16.5% on annual basis. The company had made a profit of Rs 1,628 crore in the same quarter a year ago.
Operational revenue in the July-September quarter stood at Rs 17,260 crore. It was Rs 18,639 crore in the same quarter a year ago. It has decreased by 7.39% on annual basis. The amount received from selling goods and services is called revenue.
Hyundai India's total income decreased by 8.34%
In the July-September quarter, Hyundai India's total income declined by 8.34% year-on-year to Rs 17,452 crore. The total income of the company in the second quarter of the financial year 2023-24 was Rs 19,042 lakh crore.
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related to Hyundai Motors…
₹5 crore tax notice to Hyundai India: Maharashtra State Tax Authority sent this show cause notice to the company
Hyundai Motor India Limited (HMIL), one of the country's leading automobile manufacturing companies, has received a tax notice of more than Rs 5 crore. Maharashtra State Tax Authority has sent this show cause notice to the company for irregularities in Input Tax Credit (ITC) claims for the financial year 2020-21.
According to the notice, the tax authority has alleged that the company has not paid tax. Due to this, a total demand notice of Rs 2.74 crore has been sent to the company. Apart from this, the company will also have to make interest payment of Rs 2.27 crore.
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