Hyundai Cars To Get Pricier From Jan 2024; Check Expected Prices Of Creta, Venue & More

Hyundai will increase the prices of its models from January 1, 2024, onwards, citing increasing input costs and exchange rates as the reasons behind this hike.

Hyundai Motor India Limited has announced to increase prices of its models w.e.f. January 1, 2024. The company announced the price increase owing to rising input cost, adverse exchange rate and increase in commodity prices, amongst other reasons. Commenting on the price hike, Mr. Tarun Garg, COO, Hyundai Motor India, said, “At Hyundai Motor India, we always try to absorb the cost escalations to the extent possible and ensure continuous customer delight. However, it has now become imperative to pass on some portion of the rising input cost to the market through a minor price increase. The price hike will be effective from January 1st, 2024.”

Talking of the new prices, the company is expected to raise the prices of its products, namely Creta, Venue, Verna, Tucson, Alcazar, Exter, Grand i10 Nios, and i20,  by nearly 2-3 per cent only. Currenlty, the Venue is priced from Rs 7.89 lakh onwards. With price hike coming in to effect, it could possibly start from Rs 8.10 lakh, ex-showroom. Similarly, prices of other models will be hiked.

Also, the brand’s CSR arm of Hyundai Motor India Ltd.,today announced a relief support amounting to INR 3 crores to support communities affected by Michaung cyclone in Tamil Nadu. The Company’s onsite teams are working along with state government authorities to deliver emergency relief, including food, water, shelter, medical assistance and other essential commodities to affected communities.

HMIF will provide relief kits such as dry rations, tarpaulin, bedsheets and mats. Medical camps will also be set up and HMIF will help clean villages in its efforts to address the after effects.

For Hyundai Motor India customers, the Company has put-in-place an emergency road assistance team and will offer 50% discount on depreciation amount on insurance claims of cyclone affected vehicles. Also, the company’s service network has been put on a high state of preparedness to attend to an expected higher influx of vehicles.

Commenting on HMIF’s support to the residents of Tamil Nadu, Mr. Un Soo Kim, MD & CEO, Hyundai Motor India Ltd., said, “Hyundai Motor India stands in solidarity with people of Tamil Nadu in these testing times. As a reflection of our global vision – Progress for Humanity – we are committed to alleviate the challenges faced by communities during times such as these. We have contributed INR 3 crores towards the relief fund,which will deliver immediate help and bring significant impact to the affected regions & communities. HMIL has also set up a dedicated ‘Relief Task Force’ which will work closely with the District Administrations to offer support to the needy. For our beloved customers, we have ramped up our service support to flood affected customers in Tamil Nadu. We have also deployed a dedicated Emergency Roadside Assistance ServiceTeam to support our customers.”