Hyundai to hike new car prices

Due to the devaluation of the Rupee against major currencies you now get less for your rupee. As a result new car prices are bound to go up as all car makers importing various components for their cars will have to pay more for those components. 

Hyundai like many other car makers has announced that they will be increasing the price of all their cars from 1st January 2012 onwards. The hike in price for individual models will depend on the number of imported components fitted to a car. The hike will vary from 1.5% to 2% on the sticker price of a Hyundai car.

“The pressure of rising inflation, higher fuel costs and sharp rupee depreciation has compelled us to look at a price increase on our models. All these factors have now made it very difficult for us to absorb the rising costs. The price increase will come into effect in January 2012, we are in the process of working out the specific increase on the various models. Broadly the increase will be 1.5 to 2% across all models,” said, Mr. Arvind Saxena – Director Marketing and Sales, Hyundai Motor India Ltd.