Hyundai Motor India to increase prices of its model range from January 2024

Hyundai Motor India Limited (HMIL), India’s first smart mobility solutions provider and largest exporter since inception, has announced to increase prices of its models w.e.f. January 1, 2024. The company announced the price increase owing to rising input cost, adverse exchange rate and increase in commodity prices, amongst other reasons. Commenting on the price hike, Mr. Tarun Garg, COO, Hyundai Motor India, said, “At Hyundai Motor India, we always try to absorb the cost escalations to the extent possible and ensure continuous customer delight. However, it has now become imperative to pass on some portion of the rising input cost to the market through a minor price increase. The price hike will be effective from January 1st, 2024.” HMIL will continue to make consistent internal efforts to minimize future price impact to customers.