Hyundai India, the country's second largest carmaker, today announced that it will increase the prices of its entire range from January, 2015. The company cited higher input costs and high cost of imports due to higher rupee depreciation and high cost of sales as the reason of the price hike. Prices of all Hyundai cars in the country will go up by about Rs. 5,000 -Rs. 25,000, depending upon the model.
So if you are planning to buy a new Hyundai car, December might be the right month, since the company is also offering several benefits on most of its cars save for the Elite i20. Commenting on the price hike, Mr Rakesh Srivastava, Sr Vice President, Sales and Marketing said, "In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales.
We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs. 5,000 to Rs. 25,000 which will be effective from Jan, 2015"