Hyundai is likely to increase the prices of all its models by up to Rs.20,000 from 16th of this month. The impact of rupee depreciation and the rising input costs are the major causes for this price hike by Hyundai.
Mr.Rakesh Srivastava, Senior Vice-President (sales & marketing) of Hyundai Motor India Ltd (HMIL) reported, “The rupee depreciation and the increase in input costs have impacted our overall cost. We have been absorbing most of the cost. Now, we have been compelled to increase prices. We are currently working out the details and the increase in prices will range from Rs.3,000 to Rs.20,000 across models.”
He further said the price hike will be effective August 16, 2016.
Hyundai sells a range of vehicles in India starting from entry-level small car Eon to premium SUV Santa Fe, which are priced between Rs.3.25 lakhs and Rs.31.75 lakhs (ex-showroom Delhi).
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