Mostly Cloudy
24°CWed :Isolated Thunderstorms. High: 33 Low: 21

Hyundai to hike prices by up to Rs 20,000 from January

Hyundai to hike prices by up to Rs 20,000 from January

New Delhi: Hyundai Motor India Ltd (HMIL) will increase prices of its products across all models by up to Rs 20,000 from January to offset pressure of input costs on account of rupee depreciation and inflationary trends.

The quantum of price increase will vary from Rs 5,000 to Rs 20,000 across all models, the company said in a statement.

HMIL sells a range of car models, including popular Santro, i10, sedans Verna and Sonata, in India priced between Rs 2.89 lakh and Rs 26.69 lakh (ex-showroom Delhi).

Commenting on the price hike, HMIL Senior Vice President (Sales and Marketing) Rakesh Srivastava said: “In these adverse market conditions there is continuous increase in input costs on account of rupee depreciation and inflationary trends. This has made the price increase inevitable.”

He said the company has been absorbing most of the costs but it is now compelled to consider the price increase.

The price increase across all the models would come into effect in January 2014, the company added.

Already other automobile manufacturers such as Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Mercedes, BMW, Audi and Honda have announced that they would increase prices of their products from next month citing similar reasons.

 

Top Stories

sania-mirza-shoaib-marriage-pics-2-360_story

‘Sania Mirza Is Pakistan’s Daughter-In-Law’, says BJP leader

July-24-2014
Tennis star Sania Mirza is “Pakistan’s daughter-in-law” and has incorrectly been designated the brand ambassador of India’s youngest state, professes a BJP
arun-jaitley_625x300_81405046408

Cabinet Approves 49% FDI in Insurance

July-24-2014
The Cabinet has cleared the Insurance Laws (Amendment) Bill and it will be subsequently introduced in the current session of Parliament. The
M_Id_477081_congress

Jagan Mohan Reddy’s YSR Congress calls for 3-day dharna over loan waiver in Andhra Pradesh

July-24-2014
YSR Congress Party (YSRCP) today accused the TDP Government in Andhra Pradesh of going back on its pre-poll promise about waiving farm
Sushil-Kumar-Vijender-Singh

India’s best bets at Glasgow Commonwealth Games

July-24-2014
In the 2010 Delhi Commonwealth Games, India recorded its best ever haul of 101 medals. It will struggle to repeat that at
Rahul

Rahul Stuck on Making Long-term Plans for Congress

July-24-2014
NEW DELHI: The Congress can be caught in “short-term” bickering, but vice-president Rahul Gandhi is still into “long-term” planning. At a recent
hhjh

Porsche Macan launched in India at Rs 98.18 lakh

July-23-2014
When we first learnt that Porsche’s baby SUV, the Macan, was making its way to India, we knew it would be expensive,