Hyundai to increase car prices from January 2014

Hyundai Motor India is next in line to serve its price hike announcement. The Korean carmaker has declared a price hike of Rs 5,000 to Rs 20,000 from January 2014. The hike will be across the entire Hyundai model range. Increasing input costs, devaluating rupee and inflation have been cited as reasons for the hike.

Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these adverse market conditions there is continuous increase in input costs on account of rupee depreciation and inflationary trends, this has made the price increase inevitable. We have been absorbing most of the costs but now we are compelled to consider the price increase. The quantum of price increase will vary from Rs. 5,000/- to Rs. 20,000/- across all our models.”

Hyundai sells nine models in India - Eon, Santro, i10, Grand i10 and i20 hatchbacks, Verna, Elantra and Sonata sedans and the Santa Fe SUV.