Hyundai Motor shares in focus as company announces up to 3% price hike from April

The price hike will vary depending on the model, the company said. This is Hyundai’s second price hike since its initial public offering (IPO) in October. It raised prices by up to Rs 25,000 across models in December.

“At Hyundai Motor India Limited, we strive to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in operational expenses, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. The price increase will be effective in April 2025. We remain committed to making consistent internal efforts to minimise any future impact on our valued customers,” said Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL.

Previously, Maruti Suzuki India, Kia India and Tata Motors also announced their decision to hike vehicle prices from next month.

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Hyundai Motor India on Saturday said its total vehicle dispatches declined 3 per cent year-on-year to 58,727 units in February. The company had sold 60,501 units in February last year.The automaker said it dispatched 47,727 units to dealers in the domestic market last month, a drop of 5 per cent as compared with 50,201 units in February 2024.Export sales stood at 11,000 units as against 10,300 units in the year-ago period.

“On the domestic sales front, despite geopolitical challenges, we remain optimistic that the proposed tax reforms in the Union Budget 2025 and improved liquidity will provide the much-needed demand boost to the market,” Hyundai Motor India Whole-time Director and CEO Tarun Garg said.

By optimising exports, the automaker will continue to reinforce the company’s position as a key export hub for Hyundai Motor Company, he added.

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