NEW DELHI: Hyundai Motor India (HMIL) will increase prices of its cars from January 1, 2026. The Korean carmaker said that due to rising costs of precious metals and commodities, it will implement a weighted-average price increase of around 0.6% across its model range.
“While the company continuously strives to optimize costs and minimize the impact on its customers, the company is constrained to pass on some of the increased costs to the market through this minor price increase,” said HMIL in a statement.
HMIL has become the first major carmaker to announce a price hike after the GST revision in late September 2025. Leading rivals including Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Kia, and Toyota have yet to follow suit. Auto firms commonly raise prices at the start of the new year to offset inflation.
Last week, Renault India, the wholly owned arm of French automaker Renault Group announced a marginal revision of up to 2% in prices, effective from January 2026. JSW MG Motor, Honda and Nissan have also announced price hikes, effective from January.
In the wake of rupee depreciation, luxury original equipment manufacturers (OEMs) such as Mercedes-Benz and BMW will also increase the prices of their cars from January 2026.
BMW Motorrad India announced a price increase of up to 6% across the range, effective 1 January 2026. The German automaker will also increase prices of its cars by up to 3% from January 2026. Mercedes-Benz said that it will raise prices across its entire model range, effective January 1, 2026. The hike, capped at 2%, reflects persistent forex pressures that have defined the luxury auto segment throughout 2025.
Compared to the levels seen last year, the rupee has depreciated around 6% against the US dollar. In the case of the British pound and the Euro, the decline is in double digits. India imports most of its luxury cars or components for luxury cars from Germany and the United Kingdom.