Hyundai To Increase Vehicle Prices From January 2024

Hyundai Motor India has announced that it will increase the prices of all its models from January 1, 2024. The hike has been owing to rising input cost, adverse exchange rate and increase in commodity prices, amongst other reasons. Acko Drive reached out to Hyundai to understand the percentage increase in hike, but the company has said that it would be announcing it at a later date. However, the company does say that it will be a ‘minor’ revision in price.

Tarun Garg, COO, Hyundai Motor India, said, “It has now become imperative to pass on some portion of the rising input cost to the market through a minor price increase.”

The company is all set to launch the Creta facelift in the country and there are a few more launches or updates expected in 2024. The Exter has been a success for the company and with demand for the car increasing, it will be interesting to see how Hyundai India tackles the price hike when it comes to its Micro SUV offering.