The company is considering launching a luxury sports utility vehicle of the GV80 (SUV) and the G80 sedan because its Indian subsidiary is trying to reflect competition from Mahindra and Mahindra Ltd and Tata Motors Ltd., people said on the condition of anonymity.
“Whether you import completely built units or completely knocked units (CKDS) and build them here, it will be decided as soon as the clarity of tariffs is,” one of the above said.
Currently completely built units (CBU) attract an efficient tariff of 110% in the country, while CKDS – Cars have disintegrated into individual parts and then sent to the assembly in India – deploy an effective obligation of 16.5%.
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In July last year, India began reviewing a comprehensive economic partnership agreement in 2010 with South Korea. Since the country also negotiates dealing with other business partners, including the US and the European Union, CBU fees are expected to fall. Even India’s invasions of Tesla Inc. Elon Musk is recorded to reduce tariffs on imported cars.
Genesis input, along with plans to launch 26 new models by 2030, could strengthen the portfolio of the second largest Indian manufacturer, which noted that its sale dropped by 3% to 598,666 units in the fiscal year 2025. slipped to the fourth position.
The SUV controlled assembly helped Mahindr to narrow the gap. From a share of 5.35% compared to 17.36% Hyundai in FY21, Mahindra now commands 12.34% compared to 13.47% for the Indian unit of the Korean giant.
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Hyundai India refused to comment on this topic.
The pressure of the new CEO
This step towards the introduction of Genesis accelerated after José Muñoz, who took over in January as the global president and CEO of Hyundai, visited India in March, people said.
Muñoz, who joined the company to the company in 2019 after a 15 -year Stint in Nissan Motor Corp., is credited with the success of the Genesis brand in the US, as the sale increased from 10,312 units in 2018 to more than 75,000 cars in 2024.
Genesis entry into the ground has been speculated for some time. It was believed that the brand would enter the market in 2020, but then hit the Covid-19 pandemic. Some reports suggest that the luxury brand could be presented by the end of 2025, but this was presented to Backburner last year before the initial public offer (IPO) in October.
But with Hyundai witness slowing in India, global management is again trying to present a luxury brand that earns a growing trend of bonusing on the Indian market.
“The luxury market has been identified as a key segment for growth and Hyundai would like to use it,” said the other person quoted earlier.
Luxury dreams
Luxury car sales in India increased by only 3.31%to 51,000 units in the financial year, but it was still a record. The market is led by Mercedes-Benz, followed by BMW and Jaguar Land Rover.
Genesis was launched in 2015 as a separate brand within the South Korean giant to take over BMW, Mercedes-Benz and Lexus. It is present in several markets, including Korea, the US, Canada, the Middle East, Australia, Europe and China. In 2024 he sold 229 532 units.
Genesis’ entry into India would come because Hyundai is planning aggressive expansion in a country with 26 new start by 2030. This includes 20 models with an internal internal combustion engine or ice and six electric vehicles. Hyundai also plans to present a model of a hybrid electric vehicle.
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“We believe that Hyundai Motor India remains well located to seize from the trend of premization in India, due to its mix in favor of SUV,” wrote Motilal Oswal Financial Services LTD in note 17.
Hyundai shares increased by 6.15%this year, while Nifty Auto is 2.42%
(Tagstotranslate) Hyundai Motor India (T) Jaguar Land Rover
