Hyundai Motor India Ltd (HMIL) on Wednesday said it will hike prices of its vehicles by up to three percent effective in April 2025, second time this year, citing rising input costs, increased commodity prices and higher operational expenses.
The quantum of price increase will vary based on the variants and models, Hyundai Motor India Ltd (HMIL) said in a statement.
The price increase is due to rising input costs, increased commodity prices and higher operational expenses, amongst other reasons, it added.
"At Hyundai Motor India Ltd, 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," HMIL Whole-time Director and Chief Operating Officer Tarun Garg said.
The price increase will be effective in April 2025, he said, adding, "We remain committed to making consistent internal efforts to minimise any future impact on our valued customers." The company had, in January, hiked prices of its vehicles by up to Rs. 25,000 across its model range due to an increase in input costs, adverse exchange rate and rise in logistics costs.
HMIL sells a range of vehicles from hatchback Grand i10 NIOS to electric SUV IONIQ5 priced between Rs. 5.98 lakh and Rs. 46.3 lakh (ex-showroom Delhi).
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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