Hyundai announces hike of up to Rs30,000 across models
10 Dec 2015
India's second largest carmaker, Hyundai India yesterday announced an across-the-board price hike of up to Rs30,000. The carmaker had increased the prices of the Creta and i20 by up to Rs25,000. According to the company, the decision was taken due to an increase in component cost, a weak rupee and other factors.
Commenting on the price hike, Rakesh Srivastava, senior vice president for sales and marketing, said, ''In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc.''
''The proposed price increase up to Rs30,000 will be effective from January 2016 across all models, including Elite and Creta'', he added.
Hyundai India is not alone in taking the step as Toyota India too has plans to increase the prices of its cars by up to 3 per cent from 1 January 2015.
Hyundai sells nine model in India, including the Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra and Santa Fe - across segments priced between Rs3.10 lakh and Rs30.41 lakh (ex-showroom Delhi).
Several car makers, including Toyota and German luxury car makers Mercedes Benz and BMW, had announced increases in prices of their vehicles across various models from January to offset increasing input costs.
