Hyundai Motors has confirmed that the pricing of all their models will be hiked from January 1, 2016. The maximum price hike that Hyundai vehicles face is up to Rs. 30,000. Recently launched as well as existing models will be affected by the price hike.
A complete breakdown of the individual model price being hiked is not provided. Hyundai confirms that all the models sold in India will witness a price hike from next year. Previously, Hyundai hiked prices of certain models in the country during October 2015.
The price hike by Hyundai Motors was inevitable, suggests Rakesh Srivastava, Senior Vice President, Sales and Marketing, Hyundai India. Factors like weak Rupee, cost of components, input costs and many more have accounted for a price hike.
The Creta premium compact SUV, Elite i20 premium hatchback, and i20 Active premium crossover will also witness a price hike in January 2016. The new generation products by Hyundai India recently witnessed a price hike and this will be the second time within a span of three months.
Hyundai India sales have grown tremendously with the introduction of their new products. The Creta compact SUV is by far the most successful new launch product in Indian market. Hyundai Creta has surpassed 70,000 bookings in India alone and even has a long waiting period, owing to huge demand.
Several other manufacturers too have announced price hikes from January 1, 2016. Stay tuned for more updates as and when Hyundai provides us with a break up of their price hike. Hyundai Motors will be present at 2016 Auto Expo with two new products, which will launch within next year.