Hyundai and Toyota once again raise the price of models in the Indian market

Geshang Automobile reported that the company’s foreign auto parts will increase the cost of its models in the Indian market due to the increase in the cost of raw materials and the increase in the cost of parts imports.

Arvind Saxena, head of marketing for Hyundai Motor India, said that Hyundai has tried every means to absorb the rising costs, but we still have to increase the price of the models in the Indian market. Hyundai Motor’s models on the Indian market will start to increase by 1.2% from September 20th.

In addition to Hyundai, Japan’s largest automaker, Toyota Motor, will also increase its sales price in the Indian market. Sandeep Singh, who heads the Toyota India branch’s market, revealed that Toyota will begin to increase the price of Toyota’s models in the Indian market in October, but the specific price increase is not yet announced.

Car companies in the Indian market have recently faced various difficulties, such as the rise in steel prices and tire prices. In addition to Hyundai Motor and Toyota Motor, other car companies in the Indian market will also increase the prices of their models in the Indian market this year.