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Hyundai To Raise Vehicle Prices Up To 3% In April 2025
Hyundai Motor India Limited (HMIL) will increase vehicle prices by up to 3% starting April 2025. This decision is due to rising manufacturing costs, higher material prices, and increased operating expenses. The price adjustment will differ based on the model and variant.
Other major car manufacturers in India, such as Maruti Suzuki, Tata Motors, Mahindra, Kia, and Honda, have also announced similar price increases effective from April 2025. These companies face challenges like rising input costs, supply chain disruptions, and increased operational expenses. The hikes aim to maintain profit margins while ensuring product quality remains high.
The exact effect of Hyundai's price increase will depend on the specific model and variant chosen by buyers. Although Hyundai has not detailed this aspect, purchasing a vehicle before April 2025 might help customers avoid the higher prices. This move is part of a broader trend where automakers are dealing with inflationary pressures and supply chain issues.
In February 2025, Hyundai Motor India sold 47,727 cars domestically, marking a 4.93% decline compared to February 2024's 50,201 units. The Creta and Venue models performed well; Creta sales (including EV) reached 16,317 units, showing a 6.81% year-on-year growth. Venue sales increased by 13.34%, reaching 10,125 units compared to the previous year.
However, some models experienced sales declines. The Exter saw a significant drop of 29.29%, with sales falling to 5,361 units from last year's 7,582 cars. Similarly, the i20 hatchback faced a 29.31% decrease in sales, dropping to 3,627 units. Other models like Verna, Tucson, and Ioniq 5 also recorded notable double-digit declines in February.
Hyundai's decision aligns with industry-wide strategies as automakers tackle challenges like inflationary pressures and fluctuating input costs. Given these challenges, price increases from car manufacturers seem inevitable.
The automotive industry in India is witnessing a trend where manufacturers are compelled to adjust prices due to various economic factors. As companies strive to balance costs and maintain quality standards, consumers may need to plan their purchases accordingly.
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