Hyundai to increase car prices from January 1, 2025
Hyundai Motor India has announced a price hike across its entire model range, effective from January 1, 2025. The increase will be up to ₹25,000 and is attributed to rising input costs, unfavorable exchange rates, and escalated logistics expenses. This decision comes after the company's attempts to absorb these additional costs proved insufficient.
Hyundai's response to rising costs
Commenting on the price hike, Tarun Garg, Director and Chief Operating Officer at HMIL, said that Hyundai has always strived to absorb increasing costs as much as possible, to minimize the impact on customers. However, owing to a sustained rise in input costs, it has become necessary for the company to pass on some of this cost escalation through a minor price adjustment.
Price hike across all models
The price hike will be applicable on all models from January 1, 2025. The move comes as a response to the company's continued financial woes, including rising input costs and logistics expenses. Hyundai joins automakers like Audi and BMW in announcing plans to raise car prices beginning January 2025.
