Vehicle company Hyundai Motor India Limited is going to increase the prices of all its models from next month due to the rising cost of production. The company gave this information on Thursday.
New Delhi : Vehicle company Hyundai Motor India Limited is going to increase the prices of all its models from next month due to the rising cost of production. The company gave this information on Thursday.
These companies have also announced an increase in prices.
Before Hyundai, big companies in the automobile sector, such as Maruti Suzuki India, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor, have also increased the prices of vehicles from the new year. announced.
Did n’t tell how much the prices will increase,
Hyundai said in the statement that the company has continued to bear the burden of the rising cost itself. However, now it is going to pass on some of the burden of the cost hike to the customers. The new prices for various Hyundai models will be applicable from January 2023. Although the company has not told how much it will increase the prices.
Maruti gave information in the beginning of December
Earlier in the beginning of December, Maruti had also announced to increase the prices of all its models. In the information sent to the stock markets, Maruti had said that the cost pressure on the company has increased between the overall inflation and the recent regulatory requirements.
The company had said that it has made maximum efforts to reduce the cost and partially tried to stop this increase, but now the increase in prices has become necessary.
Remember that input cost is very important for any car manufacturing company. For any original equipment manufacturer, 70 to 75 percent of the material cost is part of the total cost. Due to this, the margins of the companies are getting affected.
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