Hyundai Cars Price Hike Announced: Creta, Venue, Exter, Grand i10 & More to Get Costlier Soon
On Thursday, Hyundai Motor India Limited (HMIL) revealed its plan to raise prices across its model lineup starting January 1, 2025. This move follows similar actions by other automakers like BMW, Audi, and Mercedes Benz. Hyundai’s popular models like Creta, Venue, and Grand i10 will be impacted by this price increase.
In January, Hyundai India plans to roll out its electric SUV based on the Creta model. They’re also looking to raise prices across their entire lineup. From January 1, 2025, Hyundai plans to raise prices by as much as Rs. 25,000. The company clarified that this hike is a result of increased input expenses, unfavorable exchange rates, and higher logistics costs.
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Sharing his thoughts on the progress, Tarun Garg, who serves as both a Whole-time Director and Chief Operating Officer at HMIL, mentioned that, “At Hyundai Motor India Limited, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. This price increase will be done across models and the extent of the increase will be up to Rs 25000. The price increase will be effective from January 1, 2025, on all MY25 models.”
Hyundai India Sells Over 70,000 Units in October 2024
In October 2024, Hyundai Motor India Limited (HMIL) sold a total of 70,078 vehicles, with 55,568 units sold domestically and 14,510 units exported. This marks the third-highest domestic sales and third-highest monthly total sales figures since the company started. For the year up to October 2024, HMIL’s total sales, including domestic and exports, amounted to 647,789 units.
In October 2024, the number of cars sold in the country was 55,568 units, which was just a bit higher by 0.8% from October 2023. Export numbers for the same month in 2024 reached 14,510 units, marking an increase of 8.6% compared to October 2023. The most SUVs ever sold in a month was recorded in October 2024 with 37,902 units sold, and the Hyundai Creta model alone sold 17,497 units.
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The company stated that they are still working on expanding their CNG reach and enhancing HMIL’s Hy-CNG technology. This effort has led to the company reaching its peak CNG sales with 8,261 units sold, making up 14.9% of the total domestic sales in October 2024.
Looking at how well things have been going from January to October 2024, the overall sales numbers have gone up by 6% compared to the previous year. Specifically, sales within the country increased by 1.1%, reaching 514,979 units, while exports surged by 26.6%, totaling 132,810 units.