Hyundai Motor India announce price hikes from January 2025
Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said, "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 cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment."
ANI
Dec 05, 2024 12:48 IST
New Delhi [India], December 5 (ANI): Leading automobile manufacturer, Hyundai Motor India Limited (HMIL) has announced price increases across their model ranges, effective January 1, 2025.
The revisions are attributed to rising input, logistics, and transportation costs, along with adverse exchange rates.
Hyundai Motor India Limited revealed that prices for its Model Year 2025 (MY25) vehicles will increase by up to Rs25,000.
Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said, "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 cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment."
He added, "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."
The increase will be applied across Hyundai's extensive range of offerings, ensuring customers are informed well in advance.
Earlier, On December 2, Audi India announced a 3 per cent price increase across its lineup, citing rising input and transportation costs. Audi's portfolio includes popular models such as the Audi A4, Q7, e-tron GT, and RS Q8, among others.
Balbir Singh Dhillon, Head of Audi India, stated, "This correction is essential for Audi India and our dealer partners to ensure sustainable growth. We remain committed to minimising the impact of the price hike on our valued customers."
Price increases at the start of every year have become a common practice in the automotive industry, as brands align pricing with cost escalations experienced over the previous year. The adjustments aim to maintain sustainable operations and growth while balancing market dynamics.
With Hyundai and Audi joining the list of brands announcing price revisions, other automakers are likely to follow suit in the coming weeks.
Consumers planning vehicle purchases may look to finalize deals before the year-end to avoid the higher costs starting January 2025. (ANI)
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