New Delhi, Mar 20: Hyundai Motor India and Honda Cars India on Wednesday joined the list of automakers planning to hike prices of vehicles from April, second time this year, to partially offset the impact of rising input costs and higher operational expenses.In a statement Hyundai Motor India Ltd (HMIL) said it will hike prices of its vehicles by up to 3 per cent effective in April 2025. The quantum of price increase will vary based on the variants and models.
The price increase is due to rising input costs, increased commodity prices and higher operational expenses, amongst other reasons, it added.
“At Hyundai Motor India Ltd, 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,” HMIL Whole-time Director and Chief Operating Officer Tarun Garg said.
The price increase will be effective in April 2025, he said, adding, “We remain committed to making consistent internal efforts to minimise any future impact on our valued customers.”
The company had, in January, hiked prices of its vehicles by up to Rs 25,000 across its model range due to an increase in input costs, adverse exchange rate and rise in logistics costs.
HMIL sells a range of vehicles from hatchback Grand i10 NIOS to electric SUV IONIQ5 priced between Rs 5.98 lakh and Rs 46.3 lakh (ex-showroom Delhi).
Honda Cars India also said it will hike prices of its entire model range with effect from April in order to partially offset the impact of rising input costs.
The company will revise prices across all models from April 2025 due to rising input costs and operational expenses, Honda Cars India Vice President (Marketing and Sales) Kunal Behl said.
Despite efforts to absorb these costs, some price revision has become unavoidable and will be passed on to customers, he added.
“The price hike will vary by model and variant and will apply to all Honda models, including Amaze, City, City e:HEV, and Elevate,” Behl said.
The automaker however did not elaborate on the quantum of the price revision.
Maruti Suzuki India, Kia India and Tata Motors have also announced hiking vehicle prices from next month.