Hyundai Motor India to Hike Car Prices by Up to 3%

Hyundai Motor India has announced plans to increase car prices by up to 3%, citing rising input costs and the impact of inflation on the automotive sector. The price hike will affect a range of models, with the company stating that the increase is necessary to offset the escalating costs of raw materials and components.

The decision comes as the automotive industry grapples with supply chain disruptions, semiconductor shortages, and fluctuating raw material prices, which have all put pressure on manufacturers to raise prices. Hyundai, however, emphasized that it remains committed to offering value to its customers and will continue to provide competitive pricing within the constraints of the current market conditions.

Despite the price hike, Hyundai expects the demand for its vehicles to remain robust, thanks to strong consumer interest in its range of models. The company will also continue to focus on expanding its presence in India, where it has seen steady growth in recent years, particularly in the compact and electric vehicle segments.