- Hyundai Motor has announced that it will increase prices of all the cars in its Indian lineup soon.
Hyundai Motor has announced that it will increase the price of its cars from January next year. The Korean auto giant will hike price of all the models it offers in India including popular SUVs like Creta, Venue, Exter, Tucson and Alcazar besides Verna i20, i10 and the sole electric vehicle Ioniq 5. The carmaker has said that the price hike to be implemented from next month became necessary due to rising cost of input materials, cost of logistics and adverse exchange rates.
Hyundai Motor has become the first among the top five carmakers in India to announce price hike from the New Year. Earlier, luxury carmakers like Mercedes-Benz, Audi and BMW announced similar measures. All the carmakers to announce price hike from January have listed the same reasons for the decision.
How much will Hyundai cars cost from January 2025?
While the luxury carmakers have given an idea about the impact of the price hike, Hyundai has not shared any detail about the quantum of the hike for each model so far. Tarun Garg, Director and Chief Operating Officer at Hyundai Motor, said, “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 ₹25000. The price increase will be effective from January 1, 2025 on all MY25 models.”
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Hyundai Motor is India’s second largest carmaker by sales volume and is one of the oldest foreign brands to operate in the market. It became popular through its small cars and hatchbacks. The carmaker has now shifted focus on SUVs which occupy major part of its fleet in India. The Creta is among the most popular SUVs and also one of the best-selling cars in India. Hyundai also offers other SUVs like the Venue, Exter, Alcazar and Tucson.
Hyundai sales in India
Hyundai Motor has registered a total sales of 61,252 units in November, a 6.9 per cent slump in the sales numbers compared to the same month a year ago when the Korean automaker clocked 65,801 units. In India, Hyundai registered a 2.4 per cent sales slump with 48,246 units sold last month, compared to 49,451 units recorded in a year ago period. of the carmaker dropped significantly by 20.5 per cent to 13,006 units in November this year, down from 16,350 units registered in November last year.
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First Published Date: 05 Dec 2024, 11:56 AM IST
