By Kashish Tandon<\/p>\n
May 8 (Reuters) – Hyundai Motor India said on Friday that it expects domestic sales to grow 8-10% in the \u200ccurrent fiscal and plans to invest $794 million to double capacity \u200cat its Maharashtra plant, as the carmaker rides a demand boost following tax cuts.<\/p>\n
Vehicle sales \u200bin India have picked up since New Delhi lowered consumption taxes last September, lifting showroom footfalls.<\/p>\n
Last month, however, the company said it would increase prices of its vehicles by up to 1% from May to combat rising \u200ccommodity costs linked to \u2060the Iran war, joining domestic leader Maruti Suzuki and global peers such as Mercedes-Benz and BMW.<\/p>\n
The Creta SUV maker said \u2060it plans to double capacity at its Talegaon plant, near Pune city, to 320,000 units by the end of fiscal year 2027 and will also \u200blaunch two \u200bnew models, including a new electric \u200bSUV.<\/p>\n
The market environment shifted meaningfully \u200cin the second half of fiscal 2026 following the government’s tax overhaul, CEO Tarun Garg said in a post-earnings call.<\/p>\n
For fiscal 2026, domestic sales were down 2.3%, underscoring the subdued demand that carmakers were seeing before the tax cuts took effect.<\/p>\n
India cut levies on small cars and vehicles \u200cmeasuring less than four meters to 18% \u200bfrom 28%, lowering prices and lifting demand \u200bfor price-sensitive models.<\/p>\n
Exports have remained \u200ba bright spot for Hyundai, with fiscal 2026 exports \u200crising 16.4%.<\/p>\n
The Indian unit of South \u200bKorea’s Hyundai Motor reported \u200bconsolidated profit of 12.56 billion rupees for the fourth quarter, down from 16.14 billion a year earlier, but above analysts’ estimate \u200bof 12.37 billion rupees, \u200caccording to data compiled by LSEG.<\/p>\n
Revenue rose 5.4% to 189.16 billion \u200brupees.<\/p>\n
($1 = 94.4800 Indian rupees)<\/p>\n
(Reporting by Kashish Tandon in Bengaluru; Editing \u200bby Nivedita Bhattacharjee and Sonia Cheema)<\/p>\n","protected":false},"excerpt":{"rendered":"By Kashish Tandon May 8 (Reuters) – Hyundai Motor India said on Friday that it expects domestic sales…\n","protected":false},"author":2,"featured_media":14024,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[6952,10428,295,702,4389,10109],"class_list":["post-14023","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hyundai-motor","tag-domestic-sales","tag-double-capacity","tag-hyundai","tag-hyundai-motor","tag-hyundai-motor-india","tag-maruti-suzuki"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/14023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=14023"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/14023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/14024"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=14023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=14023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=14023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}