Hyundai to increase prices from January

16 Dec 2022 , 08:19 AM

Hyundai Motor India Ltd. announced on Thursday that starting in the following month, all of its car pricing will increase due to growing input costs.

The business follows other automakers, including market leader Maruti Suzuki India, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India, and MG Motor, in announcing that they will increase prices beginning in January to partially offset the effects of increased input costs.

The company has continued to absorb rising costs, but in a statement, Hyundai Motor India Ltd (HMIL) said, “The company will now pass on a part of the input cost rise through a modification in prices throughout its model range.”

It stated that new prices for the HMIL model range would take effect in January 2023 but did not specify the extent of the anticipated price increase.

In order to minimise the price impact on clients, HMIL promised to “continue to make persistent internal efforts.”

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