Photo: Mint
Photo: Mint

Hyundai hikes vehicle prices by up to Rs1.27 lakh

Hyundai has increased the prices across all models starting from Eon to Santa Fe in the range of Rs15,000 to Rs1,27,000 effective from 1 Jan 2015

New Delhi: Hyundai Motor India on Tuesday increased vehicle prices by up to Rs1.27 lakh to partially offset the impact of high input costs and expiry of reduced excise duty concessions.

“In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost," Hyundai Motor India Ltd (HMIL) senior vice president, sales and marketing, Rakesh Srivastava said in a statement.

The company has increased the prices across all models starting from Eon to Santa Fe in the range of Rs15,000 to Rs1,27,000 effective from 1 January 2015, he added. The price of entry level small car Eon has been hiked by Rs15,417. It was previously priced between Rs2.88 lakh and Rs4.03 lakh (all prices ex-showroom Delhi).

Another compact car i10 will be dearer by Rs21,501. The model used to retail between Rs3.99 and Rs4.77 lakh. Similarly, the car maker has hiked the price of Grand i10 by up to Rs22,508. It was earlier tagged between Rs4.41 lakh and Rs6.43 lakh.

HMIL said prices of compact sedan Xcent have been hiked by up to Rs25,597. Before the hike, the model was priced between Rs4.73 lakh and Rs7.47 lakh. The company further said the price of its premium hatchback Elite i20 has been increased by up to Rs29,814 from its price ranging between Rs4.99 and Rs7.66 lakh.

Mid-sized sedan Verna will cost Rs23,965 more from the earlier price between Rs7.39 lakh and Rs11.72 lakh, the company said, adding executive sedan Elantra prices have also been been hiked by up to Rs36,912. The sedan was previously priced between Rs12.92 and Rs16.24 lakh.

Similarly, HMIL said the petrol variant of its premium sedan Sonata has been increased by up to Rs45,396 from the previous price that ranged between Rs18.74 lakh and Rs20.78 lakh.

Hyundai has also hiked the price of its premium sports utility vehicle Santa Fe by up to Rs1.27 lakh. The vehicle was previously priced between Rs25.60 lakh and Rs28.41 lakh.

Meanwhile, home grown auto major Tata Motors said it would also be increasing prices of its products. “We will pass on the increase in excise, and there would be a related price impact to the extent of the excise increase," a company spokesperson said. GM India has also increased prices of its vehicles by up to Rs61,000 across various models.

Yesterday, Honda Cars India announced a price hike of upto Rs60,000 across its product range. The price hike follows the government not extending excise duty concessions given to the auto industry after the expiry on 31 December 2014.

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