Hyundai Motor India Limited (HMIL) has today announced an increase in prices of its model lineup by up to 3 per cent, which will come into effect by April 2025. The company announced the price increase owing to rising input costs, increased commodity prices, and higher operational expenses, amongst other reasons. The quantum of price increase will vary based on the variants and models.
Commenting on the development, Mr. Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said, "At Hyundai Motor India Limited, we strive to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in operational expenses, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. The price increase will be effective in April 2025. We remain committed to making consistent internal efforts to minimize any future impact on our valued customers."
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However, the company has not announced the price hike per car and the variants, customers considering getting a Hyundai car may get it before April to avoid the price hike. It's not only Hyundai that has decided for higher price updates, it is an industry trend due to fluctuation of commodity prices, disruption in the supply chain, and inflation.
Currently, Hyundai has a total of fourteen cars for sale in India, including- the Hyundai Grand i10 NIOS, i20, i20 N Line, Aura, Verna, Exter, Venue, Creta, Venue N Line, Alcazar, Creta N Line, Tucson, Ioniq 5 and the Creta Electric. The most affordable car in the lineup is the Grand i10, with a starting price of Rs 5,98,300 (ex-showroom), whereas the flagship car by Hyundai in India is the Ioniq 5, starting at Rs 46.30 lakh (ex-showroom).