Hyundai cars will become costlier by Rs 25,000 from the new year. The company has decided to increase the prices due to increases in input costs, exchange rates, and logistics. The increased rates will apply to all Hyundai models from January 1, 2025.
Tarun Garg, Full-Time Director and Chief Operating Officer of Hyundai Motor India Limited (HMIL) said, ‘Our company’s effort is always to cover the rising costs from our own pocket as much as possible so that our customers are not affected. However, due to the continuous increase in input costs, it has become necessary to make minor adjustments in the prices.’
Hyundai sales fell by 7% and exports by 20% in November
In November, Hyundai sold a total of 61,252 vehicles, which is 7% less than the same period last year. In November last year, the company sold 65,801 vehicles.
At the same time, this decline in the domestic market is 2%. The company sold 49,451 cars in the Indian market in November 2023, down to 48,246 in November 2024.
Apart from this, the company’s exports also declined by 20% last month. Instead of 16,350 last year, the company has been able to sell only 13,006 vehicles in the foreign market in November this year.
The company’s profit declined by 16% in the July-September quarter
Hyundai Motor India has reported a consolidated net profit of Rs 1,375 crore in the second quarter of FY 2024-25. It has declined by 16.5% on an annual basis. The company had a profit of Rs 1,628 crore in the same quarter a year ago.
Operational revenue stood at Rs 17,260 crore in the July-September quarter. It was Rs 18,639 crore in the same quarter a year ago. It has declined by 7.39% on an annual basis. The amount received from selling goods and services is called revenue.
Hyundai India’s total income decreased by 8.34%
Hyundai India’s total income declined by 8.34% year-on-year to Rs 17,452 crore in the July-September quarter. The company’s total income in the second quarter of the financial year 2023-24 was Rs 19,042 lakh crore.
