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Hyundai to hike prices of its models including Creta, Verna from 2023: Report
Hyundai said it will make efforts to minimise the price impact on the buyers. The South Korean car giant's domestic range includes Grand i10 Nios, Verna, Venue, Kona Electric, Tucson, Creta and Alcazar.
Hyundai Motor India has announced price hike of its models across the country from January next year. The company has linked the proposed price rise to ‘rising input costs’. Hyundai said it has absorbed the rising costs but has now decided to pass on the increased prices to the customers, Hindustan Times' automobile website HT Auto reported.
The carmaker said it will make efforts to minimise the price impact on the buyers. The South Korean car giant's domestic range includes Grand i10 Nios, Verna, Venue, Kona Electric, Tucson, Creta and Alcazar.
According to report, the company is now set to Ioniq 5 EV, for which the bookings will open on December 20. The prices of this electric vehicle are expected to be around ₹50 lakh (ex-showroom) and the model is likely to be assembled at the Hyundai facility in Tamil Nadu.
But Hyundai is not the only carmaker to have increased prices of its models. Audi, Mercedes-Benz, Kia, Renault, Maruti Suzuki, Tata Motors, Jeep India and Citroen have announced price hikes from January. It has always been the norm for carmakers to announce price increments around the new calendar year. But the rise in the input costs have resulted in the hikes being more frequent, HT Auto report added.
Hyundai is gearing up for an action-packed 2023. It has planned multiple launches in the upcoming year. The carmaker is likely to bring out the new-generation Verna sedan, new Kona electric, Creta facelift and the Casper micro SUV.
