Hyundai Motor India has announced that prices of all its offerings in the country, except the recently launched Hyundai Grand i10, will be hiked starting 1st October 2013. This step comes in the wake of a slowing economy, depreciation of the Rupee and the general slowing down of the Indian auto industry which has impacted the company hard. It has decided to pass the extra input costs onto the customers.
“The rupee depreciation and inflationary trends have impacted our input 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 October 01 by Rs.4,000/- to Rs. 20,000/- across models except our new model Hyundai Grand which has been recently launched at an aggressive introductory price,” said Mr. Rakesh Srivastava, Senior Vice President, Sales and Marketing, Hyundai Motor India.
Prices of Hyundai’s vehicles in India are as follows, all prices ex-showroom Delhi:
Hyundai Grand i10: Rs. 4.30 Lakh to Rs. 6.45 Lakh (this will be the only offering in Hyundai’s lineup which will not be affected by the hike. These are introductory prices and will see an increase later on anyway)
Hyundai EON: Rs. 2.85 Lakh to Rs. 3.91 Lakh
Hyundai Santro Xing: Rs. 3 Lakh to Rs. 4.14 Lakh
Hyundai i10: Rs. 3.76 Lakh to Rs. 6.26 Lakh
Hyundai i20: Rs. 4.85 Lakh to Rs. 7.64 Lakh
Hyundai Verna: Rs. 7.29 Lakh to Rs 11.48 Lakh
Hyundai Elantra: Rs. 12.71 Lakh to Rs. 16.05 Lakh
Hyundai Sonata: Rs. 18.79 Lakh to Rs. 20.88 Lakh
Hyundai Santa Fe: Rs. 23.40 Lakh to Rs. 26.50 Lakh
The difficult situation in market has forced many carmakers like Mercedes-Benz, BMW, Toyota, Chevrolet, Ford among others to hike the prices of their offerings in India. The trend is expected to spread across the industry soon, and is unlikely to be reversed anytime soon.
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