Hyundai Motor India on Thursday said it will hike prices of its products by up to Rs.30,000 from January, 2016 to offset rising input costs and unfavourable foreign exchange fluctuation.
“In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc. The proposed price increase up to Rs30,000 will be effective from January 2016 across all models including Elite and Creta,” Hyundai Motor India senior vice president (sales and marketing) Rakesh Srivastava said in a statement.
The proposed price increase up to Rs.30,000 will be effective from January 2016 across all models including Elite and Creta, says Hyundai Motor India senior vice president Mr.Rakesh Srivastava.
The company sells nine car models — Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra and Santa Fe — across segments priced between Rs3.10 lakh and Rs30.41 lakh (ex-showroom Delhi).
Many other Major Vehicle makers also had already announced the price hike on their vehicles across models from January, 2016 to offset rising input costs.