It is planned that Hyundai Motor will soon raise the cost of its cars and SUVs. The Korean company that makes the car told HT Auto that the price increase could happen in January of next year. The price hike for models like the Creta, Venue, Exter, Verna, and others is meant to cover the higher costs caused by things like inflation, higher component prices, and other factors. Hyundai hasn’t said exactly when or by how much the prices of its models went up for sale. South Korean automaker Hyundai Motor is getting ready to raise prices again, just a few months after its last increase in August. Models like the Venue, Verna, and Tucson now cost up to $48,000 more than they did before the last change. Interestingly, all three types came out in the past year. The carmaker said that it is thinking about raising the prices of its cars. Tarun Garg, COO of Hyundai Motor India, said that the company plans to deal with rising prices for materials like copper and plastic, as well as making inflation and changes in the value of the rupee less of a problem. According to Garg, they want to make the price increase as little of an impact as possible on customers and will figure out how big of an effect it has in the coming weeks. The manufacturer plans to raise prices again next year, along with other producers, to deal with rising costs. Honda Motors, Tata Motors, Mahindra & Mahindra, and Maruti Suzuki were among the car companies that said they would raise the prices of their models starting in January 2024. At the moment, Hyundai Motor is India’s second-largest automaker. The Korean company said that it sold 65,801 units in November, which was almost three percent more than the same month last year. Most of these sales came from its SUVs, which include well-known models like the Creta, Venue, Exeter, and Tucson. According to Garg, 68% of the company’s sales last month were SUVs.
