Kathmandu. Hyundai Motor India (HMIL) will hike its cars from June 1. The company has decided to increase the prices of its cars by up to Rs 12,800. The new prices will vary depending on the model and variant.
Earlier, the company had issued a price hike letter on April 8. Now, considering the current market conditions, the company has decided to implement it from June 1.
The company said that this step is aimed at striking a balance between the current market conditions and the interests of the customers.
Hyundai has given three main reasons for the increase in the price of the car.
- Input Cost Increase: Input costs associated with automobile manufacturing have been increasing steadily.
- Rising commodity prices: The price of essential goods used in car manufacturing has increased significantly.
- Operating expenses: Operating costs related to company operations and car production have increased. All these factors have increased the financial pressure on the company.
The company said it is constantly striving to control and improve its costs. Hyundai’s goal has always been to mitigate the impact of rising costs on its customers.
Despite this, in the current situation, the company had no choice but to transfer some of the rising costs to the market.
