Hyundai India Increases Car Prices From 1st February 2013

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If you are looking to buy i10, i20 or for that matter any of the Hyundai car, then it’s the high time you can book your car this month itself as the company has announced to increase the prices. Hyundai Motors India Ltd, following the footprints of fellow manufacturers has announced the price increase of its entire model range starting from Alto 800 competitor “Eon” to its top end SUV “Santa Fe”. It was a much predictable increase as the input cost has been increased due to inflation in the Indian economy. So India’s second largest manufacturer has formally announced that prices of all the models will be increased up to Rs20,000 with effect from 1st February 2013. Unlike most car makers in India who announced price increase in cars in January 2013, Hyundai is implementing it from Feb 2013.

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Hyundai’s biggest competitor “Maruti Suzuki India” Ltd which is country’s leading car manufacturer announced last year about increase in its price up to Rs23,000 across all its model range except Kizashi and Grand Vitara, which are struggling to perform in the respective segment.  Mr. Rakesh Srivastava, Vice- President, Sales and Marketing Hyundai Motors India Limited commented on the same “On account of rise in input cost and fluctuation in currency, we will increase the prices up to Rs 20,000 by February 1, 2013 across all the models starting from Eon to Santa Fe SUV”.

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The competition will become fierce between two leading Automobile giants in India in 2013 and its time for MSIL to get into a thought process as manufacturer is losing its grip on Indian Market as it has witnessed the decrease in its market stake in India. Maruti has launched its two models in January 2013, one was Ritz Automatic and other was Wagon-R which received its much awaited facelift being one of the top selling models for Maruti in India.  It is anticipated that Maruti might launch a diesel version of Wagon-R in second half of the year.

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