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Hyundai To Hike Prices From January 1 – Automaker Blames Rising Input Costs
Hyundai Motor India has announced that it will be increasing the prices of its passenger cars in India from January 2023 onwards.
With that, Hyundai joins the likes of other car manufacturers such as Maruti Suzuki, Tata Motors, Audi, Kia, Mercedes-Benz, MG Motor, and Renault by announcing price hike from the start of the year 2023.
In fact, Hyundai Motor India has stated that the upcoming price update will affect all of its models under the company's current product portfolio. In addition to that, Hyundai Motor India has blamed the recent rise in input cost as one of the reasons for the price hike.
On top of that, Hyundai also claimed that it has absorbed some of the increase in input costs till now. That being said, with the upcoming price hike, Hyundai Motor India will be passing the increase in input costs to its customers from the beginning of the year 2023.
However, Hyundai Motor India is yet to reveal any further details regarding its upcoming price hike that is scheduled to be implemented from, January 2023 onwards. Moreover, we expect the South Korean automaker to reveal details about the price hike at the end of the month.
Speaking about Hyundai Motor India, the South Korean automaker is the second largest car maker in India after Maruti Suzuki. Moreover, the Hyundai Creta SUV continues to be the South Korean automaker's best-selling model in India, which is closely followed by the Hyundai Venue sub-4m SUV.
That being said, with growing competition and increased awareness among consumers regarding the safety of automobiles, the South Korean automaker is now focused to bring the facelifted version of the Creta SUV to India. Moreover, this facelifted iteration of the Creta SUV even scored a 5-Star safety rating at the ASEAN NCAP.
This is because the facelifted version of the Hyundai Creta SUV tested by ASEAN NCAP comes with lot more safety features such as 6 airbags, Electronic Stability Control (ESC), ABS, SBR, ISOFIX anchoring points, and many more. In fact, the model is even equipped with ADAS with active safety features such as Auto Emergency Braking (AEB), Forward Collision Warning (FCW), Lane Keeping Assist, Blind Spot Detection and much more.
Thoughts About Hyundai' Decision To Hike Prices Of Its Cars In India
Recently, Hyundai Motor India has been struggling to keep its place as the second biggest car manufacturer in India with stiff competition from Tata Motors. With the proposed price hike, Hyundai may witness a marginal dip in overall sales figures of its cars in India.
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