Hyundai Motors to hike prices in India from January 2016

Hyundai Motors India have declared a rise in the cost of their vehicle range which will be effective from the start of the new year to compensate for the rising input costs. The price hike is different for every model. The lower models get a hike of 1.5 per cent which include the Eon and i10 Grand which will be costlier by Rs 8,000 to 15,000. The SantaFe which gets a hike of 3 per cent will attract an increase of Rs 30,000. The overall hike has been observed to be up to 3 per cent. The Elite i10 and the recently launched Creta whose prices were already hiked in October this year will also be more expensive.

Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc. The proposed price increase up to Rs 30,000 will be effective from January 2016 across all models including Elite and Creta.”

Apart from Hyundai, other car manufacturers like Toyota, Mercedes-Benz and BMW have also announced a hike in prices of their vehicles across models from January.