Hyundai Motor India’s share price rose 2.4% to a high of Rs 1,653.95 on the National Stock Exchange after the company decided to raise car prices by up to 3%.
On March 19, Hyundai Motor announced to increase prices by up to 3% which will be effective from April 2025. This is the second price hike the company took after listing on the bourses in October 2024. The company raised the prices of its cars across models by Rs 25,000 in December 2024.
Hyundai cited that owing to rising input costs, increased commodity prices, and higher operational expenses are among other reasons behind the price rise. The quantum of price increase will vary based on the variants and models, said the company.
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“At Hyundai Motor India, we strive to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, with the sustained increase in operational expenses, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. The price increase will be effective in April 2025. We remain committed to making consistent internal efforts to minimise any future impact on our valued customers,” said Tarun Garg, full-time director and Chief Operating Officer at Hyundai Motor India.
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The company reported a 19% decline year-on-year in its consolidated net profit to Rs 1,161 crore for the third quarter of FY25, compared to Rs 1,425 crore posted in the same quarter a year ago. The total income of the company declined by 2% YoY to Rs 16,892 crore in the third quarter of the current financial year. In the same period of the last fiscal, the company reported a total income of Rs 17,244 crore.
Hyundai Motor India’s stock performance
The share price of Hyundai Motor has risen 0.06% in the last five trading sessions. The stock has declined 11.25% in the past one month. However, the stock has fallen 10% since its listing.
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