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Hyundai Price Hike In India From January Made Official
Hyundai is the latest Indian automaker to announce a price hike across it vehicle lineup in the country. According to a statement released by the manufacturer the price hike will come into effect from January 2014 onwards.
The increase in price of Hyundai vehicles will vary from model to model and will range from Rs 5,000 for the Eon to Rs 20,000 for the Santa Fe. The reason for the announcement about the price hike is the same as rest, which is an increase in production cost, resulting from rupee depreciation.
Related: Price Hikes By Other Indian Manufacturers
Speaking about the increase in price, Rakesh Srivastava, senior vice president, sales and marketing, Hyundai India said, "In these adverse market conditions there is a 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."
In the past couple of weeks almost every manufacturer doing business in India has announced price hikes, all of which will take effect starting from January 2014.
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