Hyundai Motor India to raise car prices by up to 1% from September
The Logo of Hyundai Motor India Limited is seen on a parked car in the company’s stockyard, in the outskirts of Ahmedabad, India, October 8, 2024. REUTERS/Amit Dave
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Aug 19 : Hyundai Motor India said on Wednesday it will increase vehicle prices by up to 1 per cent across its portfolio from September this year, with the extent of the hike varying by model and variant.
Here are the details:
• The company attributed the increase to rising input and commodity costs, higher operational expenses, and continuing geopolitical and macroeconomic uncertainties
• Hyundai said it has been attempting to absorb cost increases and optimize expenses but is now passing on part of the burden to customers through a marginal price revision
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• The latest increase marks Hyundai’s third price hike announcement of 2026. The automaker raised prices by 0.6 per cent from January 1 and in April announced a further increase of up to 1 per cent effective May. That increase was later implemented from June 1, with prices rising by up to 12,800 rupees ($133.68) depending on the model and variant
• India’s automakers have increasingly raised prices this year as cost pressures persist. Maruti Suzuki has announced two portfolio-wide price increases in recent months, while Tata Motors Passenger Vehicles has also raised prices
• Automakers have pointed to inflationary pressures, higher commodity prices, elevated operating costs and disruptions to global trade routes and energy markets stemming from geopolitical tensions as factors weighing on costs.
($1 = 95.7525 Indian rupees)
Source: Reuters
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