Hyundai India to hike prices by up to Rs 1 lakh from January
Hyundai Motor India Ltd today said it will hike prices by up to
Rs 1 lakh across models from January to offset higher input costs, fluctuating
exchange rates and marketing expenses.
"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," HMIL Senior Vice President, Sales and Marketing Rakesh
Srivastava said in a statement.
"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," he said.
The company sells a range of passenger vehicles, from entry
level small car Eon with a starting price of Rs 3.27 lakh to SUV Santa FE
priced at Rs 31.98 lakh (ex-showroom Delhi).
Earlier in the day, Nissan Motor India said it will increase
prices of its vehicles by up to Rs 30,000 from next month to offset higher
input costs.
The company sells a range of vehicles under the Nissan and
Datsun brands starting with entry level small car Datsun Go priced at Rs 3.28
lakh to SUV Nissan Terrano Rs 13.75 lakh (ex-showroom Delhi).
Tata Motors had yesterday announced that it would hike passenger
vehicle prices by Rs 5,000 to Rs 25,000 from next month in order to offset
increased input costs.
Renault India has also announced plans to increase prices of its
vehicles by up to 3 per cent from next month for the same reason.
Earlier, Toyota Kirloskar Motor (TKM) had announced hike in
prices of its vehicles by up to 3 per cent from next month to offset increased
input cost and consistent upward trend in foreign exchange rates.
Source :
Hyundai
India to hike prices by up to Rs 1 lakh from January