Hyundai Motor India announced that it will increase prices across its model range effective from 1 January 2025.
The auto maker stated that the price increase has been necessitated owing to an increase in input costs, adverse exchange rate and increase in logistics costs.Tarun Garg, whole-time director and chief operating officer, said, At Hyundai Motor India, 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. This price increase will be done across models and the extent of increase will be up to Rs 25,000. The price increase will be effective from January 1, 2025 on all MY25 models.
Hyundai Motor India is a part of the Hyundai Motor Group, which is the third largest auto original equipment manufacturer (OEM) in the world based on passenger vehicle sales in CY23. Manufactures and sells reliable, feature-rich, and innovative four-wheeler passenger vehicles backed by the latest technology. Additionally, parts such as transmissions and engines are also manufactured.
The car manufacturers consolidated net profit decreased 15.54% to Rs 1,375.47 crore on 7.5% slide in revenue from operations to Rs 17,260.38 crore in Q2 FY25 over Q2 FY24.
The scrip added 0.39% to currently trade at Rs 1,879.90 on the BSE.
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