Hyundai Motors India announces hike in vehicle prices

Hyundai Motors India announces hike in vehicle prices

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Auto manufacturer Hyundai Motors India (HMIL) said on October 29, 2012, that it has hiked the prices of its vehicles and has thus joined the other leading car makers, who have also hiked their vehicle prices. Hyundai has hiked the prices of its vehicles by up to Rs. 5,000 which will be effective from November, 2012, to offset the impact of rise in input prices.

Rakesh Srivastava, the vice president of national sales and marketing HMIL said, “The price increase has been necessitated by a variety of input costs. We have tried to minimize the price increase to cause less inconvenience to our valued customers.” The company sells a small car called Eon at a starting price of Rs. 2.74 lakh.

The other vehicles in its portfolio include the hatchbacks i10 and i20, sports utility vehicle Santa Fe as well as sedans Accent, Verna, Elantra and Sonata. Earlier this month Maruti Suzuki, also raised the prices of its vehicles across its range by up to Rs. 5,250 to counter the impact of foreign exchange fluctuation and rising input costs. The company increased the prices of its vehicles on an average of one percent.

Luxury car maker Audi also hiked the price of its SUV Q3 by 2 percent, which made it dearer by Rs. 50,000.