Hyundai Motor India Limited (HMIL) has announced that all cars and its trims will see a price increase of two per cent with effect from January 1, 2018. The reason for the increase was cited to offset the snowballing input and manufacturing costs borne by the carmaker.
Rakesh Srivastava, Director, sales and marketing, HMIL said, “We have been absorbing the increase in input and material costs but now are constrained to increase the prices up to two per cent.”
It isn't Hyundai alone to take this decision. Carmakers including Isuzu, Skoda, Maruti Suzuki, Mahindra, Volkswagen, Jeep, Ford, Tata Motors, Toyota etc. have already announced a price hike for the new year.
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