Hyundai and Audi to Raise Car Prices Amid Rising Costs

Hyundai and Audi have announced price hikes effective in January 2025 due to increased input and logistics costs. Hyundai's prices will rise by up to Rs 25,000, while Audi announced a 3% increase. The adjustments aim to manage cost pressures while maintaining customer affordability.

In a recent announcement by Hyundai Motor India Limited (HMIL), the automaker has declared a forthcoming increase in vehicle prices across its model range. Effective January 1, 2025, the prices will rise due to surging input, logistics, and transportation costs, compounded by unfavorable exchange rates.

Tarun Garg, Whole-time Director and Chief Operating Officer at HMIL, explained that prices for Model Year 2025 (MY25) vehicles will see an uptick of up to Rs 25,000. He stated, "Our focus has been on absorbing cost increments to minimize the burden on customers, but persistent cost escalations necessitate this adjustment." This price modification will cover all Hyundai models, with consumers being pre-notified to plan their purchases accordingly.

The trend follows an earlier declaration by Audi India on December 2, indicating a 3 percent price hike due to similar reasons. Audi's lineup includes its renowned models, and the brand emphasized the need for this price correction to sustain growth. Industry experts predict that these revisions reflect a broader trend among automakers adjusting to economic pressures.

(With inputs from agencies.)