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by IANS |
New Delhi, April 8 (IANS) Leading automobile manufacturer Hyundai Motor India Ltd. (HMIL) on Wednesday announced a price increase of 1 per cent across its portfolio, effective from May.
The company cited various cost escalations as the reason behind price hike adding that the quantum of increase will vary based on the variants and models, according to an exchange filing.
"The company's endeavour is always to absorb rising costs to safeguard our customer from price fluctuations. However, the escalating input costs have necessitated passing on a part of this impact through a marginal price revision," HMIL said in an exchange filing.
HMIL posted a 2.5 per cent YoY growth in sales at 69,004 units in March 2026 including domestic sales of 55,064 units. The company recorded its highest-ever domestic sales for any March month with 6.3 per cent YoY growth.
Total sales touched 2,08,275 units in the January to March 2026 period, up 8.7 per cent YoY.
It comprised domestic Q4 sales of 1,66,578 units, up 8.5 per cent YoY, the company's highest-ever quarterly tally for domestic sales since inception, the company had said in a statement.
Exports of the company rose 9.4 per cent to 41,697 units.
Tata Motors Passenger Vehicles Ltd. had in March announced a price increase of 0.5 per cent across its passenger vehicle (ICE) portfolio, effective April 1, 2026.
Tata Motors also implemented a 1.5 per cent across its commercial vehicle range, from the same date to partially offset the impact of rising commodity prices and other input costs.
Tata Motors Passenger Vehicles Ltd's Managing Director and CEO Shailesh Chandra had said the company has been facing higher input costs for nearly a year, and the impact is now necessitating a price hike.
India’s automobile sector ended March 2026 on a strong note, with major carmakers reporting record sales driven by steady demand, new launches, and expanding customer reach.
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