Hyundai India to increase car prices

Hyundai Motors India Limited has announced a price hike of their models from the Eon to Santa Fe. This price hike is to come into effect from January 1. The company has revealed that the reason behind price hike are increase in input costs and higher costs of spares.

Hyundai Motors India Limited sell a wide range of models right from their entry level Eon which is priced from Rs 3.28 lakh to the Santa Fe SUV which is priced from Rs 28.85 lakh. This price hike is inevitable and follows similar price hikes announced by other auto manufacturers such as Tata Motors, Renault India, Nissan India, Datsun India and Toyota India.

Toyota and Renault have announced a price hike of up to three per cent while Nissan, Datsun have announced hike of up to Rs 30,000 while Tata has announced hike of up to Rs 25,000. New prices will come into effect from 1st Jan 2017. All eyes are now on Maruti Suzuki, India’s largest car maker, who has not announced the price hike yet.

Commenting on the price hike, Rakesh Srivastava, Sr Vice President, Sales and Marketing said, “In these challenging year end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe.”