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Hyundai Motor to hike prices across models from January 1, 2025; Check details
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2 min read | Updated on December 05, 2024, 12:44 IST
SUMMARY
Hyundai Motor India Limited (HMIL) will increase prices by up to ₹25,000 across all MY25 vehicles starting January 1, 2025, due to rising input costs, adverse exchange rates, and logistics expenses.
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Hyundai cars soon to see price hikes effective January 1, 2025.
Hyundai Motor India Limited (HMIL) will increase prices across its model range from January 1, 2025, the company said on Thursday. The price increase, applicable to all 2025 model year (MY25) vehicles, will be up to ₹25,000, depending on the model.
In an exchange filing, Hyundai Motor cited rising input costs, adverse exchange rates, and increased logistics expenses as a reason for the upcoming hike in prices.
“At Hyundai Motor India Limited, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers,” Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said in a statement.
“However, with the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. This price increase will be done across models and the extent of increase will be up to Rs 25000. The price increase will be effective from January 1, 2025 on all MY25 models,” he added.
The decline in profitability was attributed to weak market sentiments and geopolitical factors.
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