Hyundai Motor India Set to Raise Prices by Up to Rs 25,000 for All Models Starting January 1

New Delhi, Dec 5 (NationPress) Hyundai Motor India Limited (HMIL) announced on Thursday that it will raise prices across its entire model range starting from January 1, 2025, due to an increase in input costs and various other factors.

The price increment will affect all models, with increases up to Rs 25,000. This decision is attributed to rising input costs, unfavorable exchange rates, and heightened logistics expenses, as stated by the automaker.

“At Hyundai Motor India Limited, we always strive to absorb rising costs as much as possible to ensure our customers face minimal impact,” stated Tarun Garg, Whole-time Director and Chief Operating Officer of HMIL.

However, given the continuous rise in input costs, “it has become essential to pass on part of this cost increase through a slight price adjustment,” he added. The new pricing will take effect on all MY25 models starting January 1, 2025.

During the first half of the fiscal year 2025 (April-September), the company recorded total sales of 383,994 units of passenger vehicles. This includes 299,094 units sold in the domestic market, particularly strong in the SUV segment, while export volumes reached 84,900 units.

In the month of November alone, Hyundai Motor India achieved total sales of 61,252 units, with 48,246 units sold domestically and 13,006 units exported.

The automaker reported a 16 percent decline in its consolidated net profit to Rs 1,375 crore for the July-September quarter of the current fiscal year, primarily due to reduced car sales in both domestic and export markets.

Last year, during the same period, the second-largest car manufacturer in the country had reported a consolidated net profit of Rs 1,628 crore.

Furthermore, the company noted that its consolidated revenue from operations fell by 7.5 percent to Rs 17,260 crore in the second quarter of 2024-25, compared to Rs 18,660 crore in the same quarter of the previous year.