Hyundai cars to get dearer by Rs 3,000 to Rs 20,000 with effect from August 16, 2016.
Hyundai India has announced a price hike of up to Rs 20,000 across its model line-up available in the country. The company will revise the prices of its models – starting from the Eon to the range topping Santa Fe – by Rs 3,000 to Rs 20,000. The new prices will come into effect from August 16, 2016.
Hyundai has not given the break-up of the price hike for individual models but it’s understood that small cars will be affected the least while its best-sellers, like the Creta and Elite i20 will get a substantial increase in their prices. The Santa Fe will of course attract the maximum hike of Rs 20,000.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. 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 Rs 3,000 to Rs 20,000 across models.”
For the record, this is the third time that Hyundai cars have received an upward revision in their prices. Irrespective of that, Hyundai has been on a roll in the Indian market so far this year. In July 2016, the company registered a growth of 12.9 per cent in its monthly sales and sold 41,201 units in the domestic market last month.
Recently, the Korean auto maker also introduced three new variants of the Creta in the market as part of the compact-SUV’s first anniversary celebrations. Going forward, Hyundai will launch two more products this year including the all-new Elantra and the automatic version of the Elite i20.