The price hike, set to be implemented from January 2025, will affect all Hyundai models, with increases reaching up to Rs 25,000 depending on the vehicle.
05 Dec 2024 | 2792 Views | By Autocar Professional Bureau
Hyundai Motor India Ltd will increase prices across its entire model lineup, effective January 1, 2025. The decision comes as the company faces mounting input costs, unfavorable exchange rates, and rising logistics expenses.
In a statement, Tarun Garg, whole-time director and chief operating officer of Hyundai Motor India, emphasized ...
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Hyundai Motor India Ltd will increase prices across its entire model lineup, effective January 1, 2025. The decision comes as the company faces mounting input costs, unfavorable exchange rates, and rising logistics expenses.
In a statement, Tarun Garg, whole-time director and chief operating officer of Hyundai Motor India, emphasized the company's commitment to mitigating cost pressures to protect customers. “At Hyundai Motor India Limited, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in input costs, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment,” he explained.
The price hike will affect all Hyundai models, with increases reaching up to ₹25,000 depending on the vehicle. The company said it will ensure that the adjustments remain measured, aligning with its customer-centric approach while addressing the financial pressures of production and operations.
This development follows a broader industry trend of price adjustments as automakers contend with global economic challenges.
German luxury car manufacturer Audi (India) announced an increase in prices across its entire model range effective January 1. The hike will see ex-showroom prices rise by up to 3%. Audi attributed the price hike to escalating input and transportation costs.
BMW India too, recently announced a price hike of up to 3% across its entire model range, effective January 1, 2025. The decision was part of the company's strategy to address rising costs and maintain premium quality standards.
Ducati India recently announced a price revision for select models in its motorcycle lineup, which will take effect from January 1, 2025. The adjustment will be applicable to the ex-showroom prices of specific models and variants at all Ducati dealerships across India, including locations in New Delhi, Mumbai, Pune, Bengaluru, Chennai, Kochi, Hyderabad, Chandigarh, Ahmedabad, and Kolkata.
Similiarly, Mercedes-Benz India will revise ex-showroom prices of its entire model range, effective from January 2025. The price increase will be up to 3%, depending on the model. This adjustment was attributed by Mercedes-Benz to rising input costs, inflationary pressures, and increased logistics expenses, which have been impacting the company's operational costs and overall financial performance.
Hyundai, known for its popular models such as the Creta, Venue, and i20, has established itself as a key player in India’s competitive automotive market.
Hyundai Motor India, which has been operating in the country since 1996, is currently the second-largest car manufacturer in India, following Maruti Suzuki. With a strong lineup of vehicles that cater to diverse customer preferences, Hyundai continues to maintain a significant market share. The company also plans to expand its electric vehicle portfolio in the coming years, with a focus on sustainability and innovation.