Hyundai to hike prices by upto Rs 25,000 from January

Hyundai to hike prices by upto Rs 25,000 from January

Hyundai Motor on Monday said it would increase prices across its models in January. The price increase will be in the range of Rs 5,000 to Rs 25,000.

The upcoming increase in prices comes on the back of a rise in input costs, costlier imports and depreciation in rupee.

“In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales.

We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs 5,000 to Rs 25,000 which will be effective from January 2015,”  Hyundai Motor India Senior VP (Sales and Marketing) Rakesh Srivastava said.

The company’s entry-level compact car Eon is priced between Rs 2.87 lakh and Rs 3.89 lakh while its costliest model sports utility vehicle Santa Fe is priced between Rs 25.60 lakh and Rs 28.41 lakh (ex-showroom Delhi).

The company’s other models include Santro, i10, Grand i10, i20, Xcent, Verna, Elantra and Sonata.

India’s largest auto maker Maruti Suzuki India too is mulling raising prices of its cars by 2 to 4 per cent in January owing to higher input costs.

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