Hyundai Motor India Limited, the vehicle manufacturing arm of the South Korean conglomerate in India, has announced a price hike for its vehicles. The announcement from the automaker comes following similar announcements from automakers like BMW, Audi, and others. As per the announcement, a price hike of up to Rs 25,000 will be implemented across the model range and will come into effect from January 2025.
Hyundai Motor claims that the changes in the pricing have been made because of the rising input costs. Commenting on the development, 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.”
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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.”
Presently, the automaker has models like Grand i10 NIOS, i20, and i20 N Line in the hatchback segment. Meanwhile, Aura and Verna represent the brand among segments. The brand also has an extensive range of SUVs like Exter, Creta N Line, Venue, Venue N Line, Creta, Alcazar, and Tucson. In the electric vehicle category, the brand has Ioniq 5.
If reports are to be trusted, the automaker plans on expanding its range of electric vehicles with the launch of Creta EV. The car has been spied testing multiple times outside India revealing certain details. However, there is no official confirmation from the brand on same.