Latest News
- Top 10 Used Bikes to Kickstart Your Riding Journey
- Suzuki Swift Hatchback Scores 4 Star Safety Rating At JNCAP – ADAS, New Engine & More
- Porsche Introduces Macan EV In India, Expanding Electric Portfolio
- Tata Motors To Manufacture Jaguar Land Rover Cars In Billion Dollar TN Plant - Report
- Ford Territory SUV Name Trademarked – Likely To Be Positioned Below The Everest SUV
- Jawa Yezdi Expands Mega Service Camps To 32 New Cities, Focusing On Tier-II And Tier-III Regions
- Sany India Introduces SKT105E: An Electric Dump Truck
- Force Gurkha 5-Door SUV – New Features, Dual Tone Interiors & More
- Hyundai Verna Tops Sales Chart In India's Mid-Size Sedan Segment
- India's Elections Trigger Airfare Surge in Tamil Nadu
Hyundai India Plans To Hike Model Prices Upto Rs. 80,000
Hyundai Motors India plans on hiking the price of all its models sold in the country. Recently, Tata Motors hiked the price throughout its product range. Mercedes-Benz India has also confirmed that they would be increasing the price for their models very soon.
The Korean-based automobile manufacturer plans on increasing the price of its models from Rs. 30,000 to Rs. 80,000. It is most likely that the entire range from Eon to Santa Fe will be affected by the price hike. The increase in price is expected to affect overall sales as well in the Indian market.
The major reason for the price hike by Hyundai and several other manufacturers is the 'infrastructure cess' that is levied by the Government. In the recent 2016 Union Budget, various taxes have been enforced on automobiles, which vary on different levels.
The weakening of the Indian Rupee in global economies is also another issue. The cost of acquiring raw materials has also increased, which helps in justifying the price hike by Hyundai. Upcoming models from Hyundai Motors will also witness an increase in pricing even before their launch.
At the recently concluded, 2016 Auto Expo, Hyundai showcased several of its new and upcoming products. The Tuscon SUV is most likely to launch in the Indian market. With the increase in luxury tax, the Tuscon by Hyundai could be priced higher than ever expected.