Hyundai Price Hike: Hyundai India is ready to begin sales of its Creta electric SUV next year in January and besides, it has announced to hike prices in it’s entire lineup. The company will increase the prices up to Rs. 25,000 starting from 1 January, 2025.
This has been as a result of various factors including; increased costs of inputs, embodied exchange rates and high cost of logistics among others.
Necessity of Price Change
Speaking about the price change, it was mentioned by Tarun Garg, Whole-time Director and Chief Operating Officer of Hyundai Motor India Limited (HMIL), “At Hyundai, it remains the company’s constant endeavour to absorb the increase in costs wherever possible to the least possible level that the increase affects our customer. Nevertheless owing to the continuous increasing trend observed in the input costs, it has become necessary to offset a small part of this publicity by a suitable change in the price structure. An across-the-models price rise has been announced to maintain a suitable price point, ranging from a maximum of Rs. 25,000. The new prices range will come into force from January 1, 2025 and the cars produced according to the mentioned model year—MY25.
Hyundai India has planned to launch a new electric SUV based on Creta in January 2025 and proposed a raise of vehicle prices of up to Rs. 25,000. The main explanation for the higher prices is pricey inputs and the swap of rates as well as costs of logistics.
