Hyundai Motor India Limited (HMIL) has announced a price hike for its model range, effective from January 1, 2024. Citing factors such as rising input costs, adverse exchange rates, and an increase in commodity prices, the company takes this step to maintain a balance in the face of economic challenges.
Tarun Garg, COO, Hyundai Motor India, stated, 'While our commitment is to absorb cost escalations wherever possible, the current scenario necessitates a measured adjustment.”
This decision is a response to various economic factors impacting our operational costs, he added.
Garg stated that the company is dedicated to minimise the impact on customers by undertaking internal efforts to mitigate future price escalations.
The move aligns with the company's strategy to navigate economic fluctuations while providing quality and innovative mobility solutions.
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