Hyundai cars will become costlier by Rs 25,000 from the new year. The company has decided to increase the prices due to increase in input cost, exchange rate and logistics. The increased rates will be applicable on all the models of the company from January 1, 2025. Whole-time Director and Chief Operating Officer of Hyundai Motor India Limited (HMIL) Tarun Garg said, ‘Our effort at the company is always to cover the rising costs from our own pocket as much as possible, so that it does not affect our customers. However, due to the continuous increase in input cost, it has become necessary to make minor adjustments in the prices.’ Hyundai’s sales decreased by 7% and exports by 20% in November In November, Hyundai has 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, which came down to 48,246 in November 2024. Apart from this, the company’s exports also declined by 20% last month. The company has been able to sell only 13,006 vehicles in the foreign market in November this year, instead of 16,350 last year. The company’s profit decreased by 16% in the July-September quarter In the second quarter of the financial year 2024-25, Hyundai Motor India has earned a consolidated net profit of Rs 1,375 crore. It has decreased by 16.5% on an annual basis. In the same quarter a year ago, the company had a profit of Rs 1,628 crore. 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 decreased 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% In the July-September quarter, Hyundai India’s total income decreased by 8.34% year-on-year to Rs 17,452 crore. In the second quarter of the financial year 2023-24, the company’s total income was Rs 19,042 lakh crore. —————————– Also read this news related to Hyundai Motors… Hyundai India gets tax notice of ?5 crore: Maharashtra State Tax Authority sends this show cause notice to the company Hyundai Motor India Limited (HMIL), one of the country’s leading automobile manufacturing companies, has received a tax notice of more than Rs 5 crore. The company has been sent this show cause notice by the Maharashtra State Tax Authority for irregularities in Input Tax Credit (ITC) claims for the financial year 2020-21. According to the notice, the tax authority has alleged that the company has not made the tax payment. Due to this, a total demand notice of Rs 2.74 crore has been sent to the company. Apart from this, the company will also have to make an interest payment of Rs 2.27 crore. Click here to read the full news…
