NEW DELHI: Hyundai Motor India Limited (HMIL) today announced an increase in prices by up to 3% which will be effective in April 2025. The company announced the price increase owing to rising input costs, increased commodity prices and higher operational expenses, amongst other reasons.
With this, Hyundai joins the list of carmakers that will be increasing the prices of vehicles second time in 2025.
The quantum of price increase will vary basis the variants and models, said Hyundai. The Korean brand sells a range of products in the Indian car market - ranging from the Grand i10 Nios to the Ioniq 5. These models are priced between Rs 5.98 lakhs to Rs 46.30 lakhs (ex-showroom prices).
Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said, “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.“
Honda Cars India Ltd (HCIL) also announced plans to implement a price increase across its entire model lineup beginning April 2025.
Kunal Behl, Vice President of Marketing and Sales at Honda Cars India, said that the company has been making concerted efforts to absorb these rising costs but has ultimately determined that some price adjustments will be necessary.
"Honda Cars India will revise prices across all models from April 2025, due to rising input costs and operational expenses," said Behl. "Despite efforts to absorb these costs, some price revision has become unavoidable and will be passed on to customers."
Top car manufacturers in India, including Tata Motors, Kia India and Maruti Suzuki, have earlier announced significant price hikes for their vehicles starting next month.
The fresh price hike comes even as sales of passenger vehicles (PV) remain muted and most carmakers and dealer showrooms are offering attractive discounts on less-demanded models. As per FADA data, retail PV sales fell 10.34% in February 2025 to 3.03 lakh units.