Hyundai India faces a price hike of upto Rs. 30,000

Hyundai cars would now be costlier than before with a price increase of up to Rs. 30,000. South Korean car maker, Hyundai Motor India Ltd. (HMIL) has announced the price increase in all its models except the newly launched Global SUV Hyundai CRETA.

The price increase would come into effect from Aug 01, 2015.


Commenting on the price increase Mr. Rakesh Srivastava, Sr. VP - sales and marketing, Hyundai Motor India Ltd., told ET, "The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are constrained to consider the price increase in these challenging market."


The automakers cost in India has been under constant pressure due to the sustained high level of discounts to woo buyers in this sluggish buying environment. The raw material costs had so far remained benign, but the move by Hyundai Motor India suggests otherwise. This price increase may trigger other carmakers to hike prices.

(Image credits: Indiatimes)