Hyundai cars to cost Rs5,000 more from 1 November
30 Oct 2012
Hyundai Motor India Limited (HMIL), the country's second largest car manufacturer after Maruti Suzuki, has announced an across-the-board increase in the prices of its cars by up to Rs5,000, effective 1 November 2012.
Hyundai Motor India had, on 10 October 2012, proposed to increase the prices of all its models, in order to cover increased input costs.
''The price increase has been necessitated by a variety of cost-push factors like increase in raw material prices and freight increase. We have tried to minimise the hike so as to cause less inconvenience to our valued customers,'' Rakesh Srivastava, vice president – national sales and marketing, Hyundai Motor India Ltd, had said announcing the proposal.
The decision, announced on Monday, will make Hyundai cars in India costlier during the festival times when most companies announce price discounts to push sales.
Hundai's decision has come as a shock to its dealers who expected a big sales push during this festival season.
''The price increase has been necessitated by a variety of input costs. We have tried to minimise the price increase to cause less inconvenience to our valued customers,'' said Srivastava.