Hyundai Motor India officially announced that Tarun Garg has assumed charge as Managing Director & Chief Executive Officer, effective January 1, 2026. This historic milestone marks the first time an Indian national heads the company since its establishment 29 years ago in 1996, representing a defining moment in the automotive manufacturer's legacy and demonstrating Hyundai Motor Group's confidence in India's leadership capabilities.

Leadership Transition and Succession Planning

The appointment of Garg represents a strategic leadership transition, with the company moving from expatriate executives to local leadership expertise. Garg succeeds Unsoo Kim, who returns to a strategic role at Hyundai Motor Company in South Korea. Hyundai's board had approved Garg's elevation in October as part of the company's succession planning process.

Four-Pillar Strategic Framework

Under Garg's leadership, Hyundai Motor India will focus on a comprehensive strategic framework built on four key priorities. The leadership transition sets the stage for growth across technology-led products, stronger dealer and supplier networks, improved customer service, and greater localisation and exports under Make in India.

Investment Commitment and Growth Vision

The leadership transition comes alongside ambitious investment plans, with the company targeting a ₹45,000.00 crore investment roadmap by FY 2030. This substantial financial commitment supports electric vehicles, hybrids and connected mobility while positioning India as a global manufacturing hub for emerging markets.

Professional Background and Achievements

Garg brings extensive automotive industry experience from his distinguished career, having previously worked at Maruti Suzuki India Limited where he advanced to Executive Director of Marketing, Logistics, Parts & Accessories. Under his leadership at Hyundai Motor India, the company achieved record-breaking sales for three consecutive years, delivered highest-ever profitability and EBITDA margins, and successfully executed the largest IPO in Indian equity market history in 2024.

Expressing his vision for the company, Garg stated that his focus will be on building the strong foundation while accelerating transformation towards sustainable growth, technological leadership and unmatched customer delight. Aligned with Hyundai's global vision of 'Progress for Humanity,' he emphasized creating meaningful mobility solutions that empower people, connect communities and enrich lives.

Hyundai Motor India has announced a price adjustment across its vehicle portfolio, implementing a weighted-average increase of approximately 0.6% effective from January 1, 2026. The automaker cited rising costs of precious metals and commodities as the primary driver behind this pricing decision.

Price Adjustment Details

The company disclosed the price increase through a regulatory filing, explaining that the adjustment affects its entire model range. The decision comes as the automotive industry continues to face cost pressures from various raw materials and components.

Company's Position on Cost Management

Hyundai Motor India emphasized its ongoing commitment to cost optimization while acknowledging market realities. "While the company continuously strives to optimize costs and minimize the impact on its customers, the company is constrained to pass on some of the increased costs to the market through this minor price increase," the company stated in its regulatory filing.

Current Product Portfolio

The price adjustment will apply across Hyundai Motor India's diverse vehicle lineup, which spans multiple segments and price points. The company's current offerings demonstrate significant range in both vehicle types and pricing structure.

The company's portfolio encompasses vehicles from affordable hatchbacks to premium electric SUVs, reflecting its strategy to serve diverse customer segments across the Indian automotive market. This comprehensive range means the 0.6% increase will have varying absolute impact depending on the specific model and variant chosen by customers.