Hyundai India has announced a price hike across all its models by up to Rs 1 lakh. It will be effective from January 2017 and for all the cars in the Hyundai line-up including the recently launched Tucson.
The Korean manufacturer has stated the reason for the increase in the cost to be the increasing input cost and the fluctuating foreign exchange rates along with growing marketing expenses.
Rakesh Srivastava, senior vice president, sales and marketing, commenting on the price hike said, “In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs 1, 00, 000 and will be effective from January 2017 across all models from Eon to Santa Fe.”
Hyundai is following suite of manufacturers raising the prices of their vehicles around the new-year. Tata motors also announced a price hike of Rs 5,000 – 25,000 come January 1. Toyota earlier augmented the prices by 3 per cent, while Nissan declared a price revision of Rs 30,000 across its range.