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Hyundai Cars to Get Pricier in India Starting January 2024
Hyundai Cars to Get Pricier in India Starting January 2024
Published On: 7 December 2023
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Hyundai India has confirmed that they’re going to surge prices of their vehicles starting from the very first of January 2024.
On Thursday, Hyundai Motor India has announced that they’re going to surge prices over their entire vehicle range. These prices will be applicable starting from January 1st, 2024. The South Korean automaker has suggested that this price rise comes as an impact of rising production costs. And with this price hike announcement, the auto giant has become the latest automaker to announce their price hike over vehicle range from 1st January 2024.
Furthermore, other key players in the automobile markets across the country have made an announcement about sudden price hikes over their passenger vehicle range starting from January 2024. The players included in this very list are Tata Motors, Maruti Suzuki, and Mahindra. And, simultaneously Hyundai has joined the pack with other auto giants by declaring about the price surge over its entire range of passenger vehicles starting from the first of January 2024.
Through an official release, the brand confirmed that the reason behind this surge is because of burgeoning input costs, spike in commodity costs, and adverse exchange rates among other such reasons. Tarun Garg, COO, Hyundai Motor commented about the price surge, that it has actually become quite crucial to allot some of the surging input cost to its customers through a minor price spike.
Furthermore, the carmaker hasn’t made any official comment over the price hike and which passenger vehicle is going to attract how much price hike. “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,” Garg said. Hyundai brand also confirmed about making some efforts to diminish price hike impact over its customer’s pockets.
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