South Korean automotive major Hyundai Motor Group has announced changes to its executive leadership for 2024. The company says this is part of its strategy to attain sustainable growth and be better prepared for an uncertain global business environment.

The appointment the Korean automaker said reflects a performance-based approach that aligns with outstanding achievements.

The company has promoted Jaehoon Chang as the Vice Chair of Hyundai Motor Group – Automotive Division, effective 1 January, 2025. He had been appointed CEO of Hyundai Motor in 2020, and is said to have achieved record-breaking performance, despite uncertain business environments – geopolitical risks, changing paradigms in product and technology, as well as the global pandemic.

He is also credited for laying the groundwork for Hyundai Motor's long-term competitiveness through achievements that include spearheading the hydrogen initiative and the successful IPO of Hyundai Motor India.

Going forward, Chang will be responsible for the entire value chain, including product planning, supply chain management manufacturing, and quality assessment.  

José Muñoz has been appointed President and CEO of Hyundai Motor Company and is tasked to advance global management framework and solidify customer-focused mobility innovation through diverse powertrain offerings, including electric, hybrid, ICE and hydrogen technologies, effective 1 January, 2025.

Interestingly, Munoz becomes the first non-Korean CEO of Hyundai Motor, based on his previous performance. Going forward, he is expected to enhance the company’s global management systems and further elevate its stature as a leading global brand.

Sung Kim has been appointed as President of Hyundai Motor Company to manage the business effectively through global economic uncertainties.

Jun Young Choi is promoted to President of Kia Corporation from Head of Domestic Production Division and Chief Safety Officer (CSO).

Kyoo Bok Lee, CEO of Hyundai Glovis, is promoted to President.  

Furthermore, to strengthen sustainable management and accelerate business transformation, the Group has appointed Cheol Seung Baek as CEO of Hyundai Transys and Joon Dong Oh as CEO of Hyundai Kefico.

The Korean automotive group states that it has made these executive appointments as part of a strategic effort to enhance its global competitiveness, focusing on talent and performance

Spinny, one of India’s leading used vehicles buying and selling platform, has announced the launch of ‘Friday Specials’, wherein the company will host events that will see entertainment, activities, and exclusive discounts across all Spinny Hubs and Parks. The event will take place every Friday till end-2024, where vehicle purchase activity will see more customer engaging activities including additional discounts.

Hanish Yadav, Vice-President, Spinny, said, “At Spinny, we’ve always been focused on delivering exceptional, memorable experiences for our customers. With Friday Specials, we’re going beyond just selling cars. Our aim is to create a vibrant, welcoming atmosphere where families and friends can come together, enjoy exciting moments, and create lasting memories—while also benefiting from exclusive discounts and guaranteed gifts.”

The used car platform states that in addition to discounts of up to INR 100,000 on select cars, customers will also get an opportunity to spin the ‘Friday Specials Wheel’, wherein they stand to win prizes such as free car service, movie tickets, gift cards, Spinny merchandise, and more.

At present, Spinny operates more than 57 car hubs with a total parking capacity of over 20,000 cars in the country and operates 5 more hubs specific for dealer partners.

Mahindra & Mahindra, one of India’s leading SUV manufacturer, has added another feather to its passenger vehicle business. The company’s SUV portfolio in addition to being high on tech and design, have now also scored 5-star in the Bharat New Car Assessment Programme (Bharat NCAP).

Bharat NCAP is a voluntary ‘New Car Safety Assessment programme’, which awards ‘Star Ratings’ to vehicles based upon their performance in crash tests.

Mahindra’s popular models the Thar Roxx, XUV 3XO, and XUV400 have bagged the highest possible rating for safety.

The company said that the Thar Roxx created history by becoming the first body-on-frame SUV to secure a 5-star Bharat-NCAP rating, achieving the highest overall score by any ICE vehicle the test. It got 31.09/32 in adult occupant protection (AOP) and 45/49 in child occupant protection (COP).

The XUV 3XO, scored 29.36/32 in adult occupant protection (AOP) and 43/49 in child occupant protection (COP), while the XUV400 achieved 30.377/32 for AOP and 43/49 for COP, making it one of the safest electric vehicles on Indian roads.

R Velusamy, President, Automotive Technology and Product Development, Mahindra & Mahindra, said, "At Mahindra, safety has always been at the core of our product development, and we have trailblazed our way to achieving the highest safety standards on Indian roads. The 5-star Bharat-NCAP ratings for the Thar Roxx, XUV 3XO, and XUV400 reaffirm our mission to create world-class SUVs that offer both outstanding performance and unmatched safety. From pioneering the introduction of six airbags in 2011 to now leading the charge with multiple 5-star-rated vehicles, we continue to set new benchmarks for safety across all segments. As India’s safety norms evolve, Mahindra will continue to push the envelope, ensuring highest safety standards for its SUVs."

The three SUVs now join Mahindra Scorpio-N and XUV700 to have bagged the 5-star safety rating.

With two major festivals, Dussehra and Diwali, in October, the Indian automotive industry has witnessed one of its best monthly wholesale performance according to the latest data released by the Society of Indian Automobile Manufacturers (SIAM).

Starting with the two-wheeler segment, the past month saw the segment record its best-ever wholesales with a total of 2.16 million units sold, which was a smart uptick of 14 percent YoY. This includes 721,200 scooters, 1.39 million motorcycles and 52,380 mopeds.

The three-wheeler segment saw a decline with 76,770 units sold, as compared to 77,344 units last year.

On the other hand, SUVs continue to power the passenger vehicle segment growth. A record total of 393,238 passenger vehicles were sold in the country last month, which was a flat growth albeit a high-year ago base. This includes 225,934 SUVs, up 14 percent YoY, 107,520 passenger cars, down 17 percent YoY and 11,653 vans, down 10 percent YoY respectively.

Rajesh Menon, Director General, SIAM, said, “October 2024 saw two major festivals Dussehra and Diwali, both occurring in the same month, which traditionally drive higher consumer demand providing a significant boost to auto industry’s performance. This high growth was also reflected in the Vahan vehicle registration data, wherein more than 30 percent growth in registration was witnessed for both passenger vehicles and two-wheelers in October 2024, compared to October 2023.”

Going forward, all eyes are on the wholesale performance for November and December, which is expected to determine the overall performance for FY2025.

Image: Pexels/Antoni Shkraba

Toyota Kirloskar Motor (TKM) has announced the launch of a limited-edition variant of the Glanza premium hatchback. The Glanza adds to the limited-edition variants of the Urban Cruiser Taisor compact SUV and Urban Cruiser Hyryder SUV that is available with a strong hybrid and AWD mechanism.

Describing it as a ‘special’ limited-edition, the company is offering Toyota Genuine Accessory (TGA) packages that enable ‘personalisation’ in terms of style as well as functionality.

The package for the Glanza includes 3D floormats, premium door visors, lower grill garnish, ORVM garnish chrome, rear lamp garnish chrome, front bumper garnish, fender garnish chrome, bumper corner protector and rear bumper garnish chrome. The price is INR 17,381.

The package for the Taisor includes all-weather 3d mats, 3d boot mat, headlamp garnish, front grille garnish, body cover, illuminated door sill guard, rear bumper corner garnish (black gloss and red), roof end spoiler extender (black gloss and red) and front bumper garnish (black gloss and red). The price is INR 17,931 for the E, S, and S+ (petrol grades).

The package for the Hyryder includes mudflaps, door visor premium, all-weather 3d floormats, front bumper garnish, rear bumper garnish, head lamp garnish, hood emblem, body cladding, fender garnish, read door lid garnish, leg room lamp, digital video recorder and door chrome handle. The price is INR 50,817 for the Neo Drive (S, G and V) and Hybrid (G and V) trims.

Speaking at the announcement, Sabari Manohar – Vice President, Sales-Service-Used Car Business, Toyota Kirloskar Motor, said, “We are thrilled by the tremendous customer response to our previously announced Festival Editions of the Glanza, Urban Cruiser Taisor and Urban Cruiser Hyryder, each offering a unique combination of premium styling and advanced features. The new Special Limited-Edition of Glanza, Urban Cruiser Taisor and Urban Cruiser Hyryder reflect our dedication to crafting offerings that cater to enhanced preferences of our customers, elevating their ownership experience.”

“With these special Toyota Genuine Accessories fitted by Toyota’s certified technicians along with extended warranty coverage, customers can enjoy a seamless ownership experience. We believe these limited period editions provide an incredible opportunity for customers to own a stylish, feature-rich vehicle, making their year-end celebrations even more memorable,” he added.

Besides the limited edition of Glanza, Taisor and Hyryder, the automkare is offerong exclusive year end offers above INR 100,000 on the Rumion (except CNG models) MPV.