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Photo: Mint

Hyundai to hike vehicle prices by up to Rs30,000 from January

The proposed price increase up to Rs30,000 will be effective from January 2016 across all models including Elite and Creta, says Rakesh Srivastava

New Delhi: Hyundai Motor India on Thursday said it will hike prices of its products by up to Rs30,000 from next month to offset rising input costs and unfavourable foreign exchange fluctuation.

“In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc. The proposed price increase up to Rs30,000 will be effective from January 2016 across all models including Elite and Creta," Hyundai Motor India senior vice president (sales and marketing) Rakesh Srivastava said in a statement.

The company sells nine car models — Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra and Santa Fe — across segments priced between Rs3.10 lakh and Rs30.41 lakh (ex-showroom Delhi).

Already various car makers including Toyota and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.

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