Hyundai to Increase Vehicle Prices from January 1 – News18

Automaker Hyundai Motor India Ltd on Thursday mentioned it’ll hike the costs of its autos from subsequent month citing rising enter price, hostile alternate price and enhance in commodity costs.

The firm, which sells a variety of autos beginning from Grand i10 Nios to electrical SUV IONIQ5, priced between Rs 5.84 lakh to Rs 45.95 lakh, nonetheless, didn’t specify the quantum of the proposed value enhance to be efficient from January 1, 2024.

The value enhance is owing to rising enter price, hostile alternate price and enhance in commodity costs, amongst different causes, Hyundai Motor India Ltd (HMIL), mentioned in an announcement.

HMIL COO Tarun Garg, COO mentioned the corporate at all times tries to soak up the associated fee escalations to the extent doable and guarantee prospects are usually not burdened.

“However, it has now become imperative to pass on some portion of the rising input cost to the market through a minor price increase,” he added.

HMIL mentioned it’ll proceed to make constant inner efforts to decrease future value affect to prospects.

The firm joins the likes of Maruti Suzuki, Tata Motors, Mahindra & Mahindra, Honda and Audi amongst others which have additionally introduced plans to enhance automobile costs in January.

(This story has not been edited by News18 workers and is printed from a syndicated information company feed – PTI)