Hyundai Motor India has announced that starting from August 16, the prices will increase across all its model. The price will increase from Rs. 3,000 to Rs. 20,000 and it is applicable across all models, starting from the entry-level Eon to high range Santa Fe SUV.
Commenting on the price hike, Rakesh Srivastava, Senior Vice President, Sales and Marketing, Hyundai India said:
“The rupee depreciation and increase in raw materials cost have impacted our overall costs. We have been absorbing most of the costs but now we are compelled to consider the price increase. We will be increasing the prices from August 16, 2016 by 3,000 to 20,000 across models.”
The Hyundai vehicle in India starts from Rs. 3.25 Lakh for the Eon while the top-end Santa Fe costs Rs. 31.75 Lakh (ex-showroom Delhi). The price hike is done to offset the rising production costs and just for your information, Maruti Suzuki has also increased the price hike across its complete model rage earlier this month. The Suzuki Maruti increased the price by Rs. 20,000.
The Hyundai Motor India will be expanding its base in premium segments with the launch of new generation Elantra that was set to go on sale next month, it will be followed by the next generation SUV Tucson.