Hyundai Motor India has announced its plans to hike the prices of all the models of Hyundai in January, 2015. Factors like high cost of imports due to higher rupee depreciation, higher input costs and higher cost of sales has pestered the company to take this step.
“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 Jan 2015,” explains Rakesh Srivastava, Sr. Vice President, Sales and Marketing, Hyundai Motor India Limited.
Hyundai Motor India Limited currently offers Hyundai Santa Fe, Sonata, Elantra, Verna, Xcent, i20, Grand i10, i10, Santro and Eon in India.