New Delhi: Hyundai Motor India Ltd on Wednesday said it will hike prices of its products by up to Rs9,000 to offset rising input costs.
The company will be increasing the prices across all models between 1% and 1.5%, HMIL director sales and marketing Arvind Saxena said.
“The maximum hike, however, will be up to Rs9,000 and it will be effective from 1 February,” he said, adding that the step was necessitated due to the rising input costs, specially that of commodities like steel.
HMIL sells models, including hatchbacks Santro, i10, i20 and sedans Accent, Verna and Sonata Embera, in the Indian market.
The company’s move to increase prices comes on the heels of car market leader Maruti Suzuki India hiking prices of a majority of its models by up to 1.9% last week.