Hyundai Motor India to Implement Price Hike Starting January 2025 - Hyundai Motor India Limited (HMIL) has announced that it will increase the prices of its vehicles, effective from January 1, 2025. This decision comes as a result of rising costs in production, logistics, and transportation, as well as unfavorable exchange rates.
The company stated that the price hike will affect the Model Year 2025 (MY25) vehicles, with the increase ranging up to Rs. 25,000. Tarun Garg, the Whole-time Director and Chief Operating Officer of HMIL, said, "At Hyundai Motor India, we always try to absorb rising costs as much as we can, ensuring minimal impact on our customers. However, due to the ongoing increase in input costs, we now need to adjust prices slightly."
He added that the price increase will be implemented across the entire model range, with adjustments reaching up to Rs. 25,000. This change will take effect from January 1, 2025, for all MY25 vehicles.
In line with industry trends, this price revision follows similar moves by other automakers. For instance, Audi India recently announced a 3% price hike across its lineup due to rising costs. Other automakers are expected to make similar announcements in the coming weeks.
Consumers looking to buy vehicles may want to finalize their purchases before the end of the year to avoid the upcoming price increases in January 2025.
About Hyundai Motors: Hyundai Motor India Limited (HMIL), a wholly owned subsidiary of Hyundai Motor Company, South Korea, is one of the leading automobile manufacturers in India. Established in 1996, the company has consistently been at the forefront of India's automotive industry, offering a wide range of cars that cater to various customer segments. Known for its innovative designs, advanced technology, and high-quality standards, Hyundai has earned a strong reputation in the Indian market. The company operates a state-of-the-art manufacturing facility in Sriperumbudur, Tamil Nadu, and has an extensive network of dealerships and service centers across the country. Hyundai's product lineup includes popular models like the Hyundai Creta, i20, Verna, and Venue, which have been well received by Indian consumers for their performance, safety features, and value for money. Committed to sustainability, Hyundai Motor India also focuses on electric vehicle technology, with models like the Hyundai Kona Electric making strides in the growing EV segment.
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