Korean auto major Hyundai Motor India Limited (HMIL) today joined other leading car makers in increasing vehicle prices by up to Rs 5000 from November to offset the impact of rise in input prices.
Rakesh Srivastava, vice president (national sales and marketing), HMIL, said, “The price increase has been necessitated by a variety of input costs. We have tried to minimize the price increase to cause less inconvenience to our valued customers.” HMIL sells small car Eon priced upwards of Rs 2.74 lakh, hatchbacks i10 and i20,.sedans Accent, Verna, Elantra and Sonata and sports utility vehicle Santa Fe in India.
Earlier this month, the country's largest car maker Maruti Suzuki India Limited (MSIL) had raised prices across its range of models by up to Rs 5,250 to counter the impact of adverse foreign exchange fluctuation and rising input costs. The average hike in the price across models was around one per cent.
Audi, Mahindra & Mahindra (M&M), Renault, General Motors and Honda Cars India have already made similar price hike announcements recently..
Luxury car maker Audi had hiked the prices of its sports utility vehicle Q3 by up to two per cent, translating into an increase of Rs 50,000. The company had hinted at increasing prices of other models after the festive season.
While Renault has increased price of the petrol variant of popular sports utility vehicle Duster by Rs 30,000 and that of the diesel variant by Rs 40,000, Honda Cars India has said that it will charge customers 0.2-2.6 per cent more on the City, Brio and Jazz. Utility vehicle manufacturer Mahindra & Mahindra also has plans of carrying out a price hike in the range of 0.5-1.5 per cent across its entire portfolio in the coming days.