Hyundai, Kia cost India billions of dollars in trade deficit: Piyush Goyal
He said that Korea and Japan don’t stop the export of steel from India, but India can not sell a ton of steel in both countries because there is a “nationalist” spirit.”
He said that Korea and Japan don’t stop the export of steel from India, but India can not sell a ton of steel in both countries because there is a “nationalist” spirit.”
The automaker, which controls the second-largest market share in India, drew flak from social media users for celebrating Kashmir Solidarity Day.
Rising commodity prices have compelled some of India's top automakers to hike car prices, from January. Experts caution this could further dampen consumer demand and delay recovery in the auto sector.
Automakers are pushing for cars to be sold online in a desperate bid to combat a Covid-19-related slowdown and push up demand.
Covid-19 has battered the Indian auto industry, sending many big players reeling. The only light at the end of the tunnel, however, has been the SUV segment.
In addition to the Carnival, Kia Motors also unveiled the Sonet concept for the first time globally.
What slowdown, ask two new entrants in the Indian auto market, as they find buyers amidst the gloom and doom around them.
About 50 new launches are expected at the February 7-12 event.
After Maruti Suzuki, Hyundai, and Mahindra, Kia Motors sold the most cars in November. It has sold more than 40,000 Seltos since its launch in August despite a slowdown in the auto industry.
The South Korean company sees India as a crucial market, and says the country will play an important role in expanding the carmaker’s global footprint.