Hyundai Motor India (HMIL) has revealed that it will increase the prices of its entire model range starting 1 January 2025.
The company attributed these price revisions to rising input costs, increased logistics and transportation expenses, and unfavourable exchange rates.
Go deeper with GlobalData
Hyundai’s model year 2025 (MY25) vehicles will see price hikes of up to Rs25,000 ($295.31), impacting a wide range of offerings across its portfolio.
HMIL director and COO Tarun Garg said: “At Hyundai Motor India, our endeavour 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 1 January 2025, on all MY25 models.”
The company noted that it will ensure that customers are informed ahead of time to minimise any potential surprises. This price adjustment will be uniformly applied across Hyundai’s diverse lineup.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThis price adjustment follows a similar move by Audi India, which announced a 3% price increase across its lineup on 2 December, citing similar cost pressures.
Audi’s revised prices affect models such as the Audi A4, Q7, e-tron GT, and RS Q8.
Audi India head Balbir Singh Dhillon 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 hikes at the start of each year have become increasingly common in the automotive industry.
Companies adjust their prices to reflect the cost increases accumulated over the previous year. This strategy is intended to support sustainable business practices and growth while considering the overall market environment.
