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Hyundai Motor India Ltd announced on Thursday that it will raise vehicle pricing across the board beginning next month, citing increased input costs.
The company joins market leader Maruti Suzuki India, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India, and MG Motor in making year-end announcements to raise prices beginning next month to mitigate the impact of growing input costs.
In a statement, Hyundai Motor India Ltd (HMIL) said, “The company has continued to absorb rising costs, however (it) will now pass on a part of the input cost increase through a revision in prices across its model range.” It stated that new prices for the HMIL model range will go into effect in January 2023, but did not comment on the magnitude of the proposed price increase.
HMIL said it will “continue to make consistent internal efforts to minimise price impact to customers”.
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