Hyundai Motors India Limited has hiked prices of its popular models in its product portfolio. It has increased prices of Santro, i10 and Accent across all their variants with immediate effect. The company stated that the price increase is due to the rise in input costs which is eventually being passed on to the customer. The hike ranges from 1.2 percent to 3 percent. The prices of its recently launched models like Hyundai i20 and Hyundai Sonata and its variants remained unchanged.
The retail prices of Santro, i10 and Accent have increased from Rs. 3601 to Rs. 14636. The Santro now gets costlier between Rs 3,601 to Rs 5,163 while the premium hatchback i10 will be more expensive in the range of Rs 3,974 to Rs 7,637 and the prices of Accent have gone up by Rs 14,636.
Hyundai had cut its prices by 4 percent after the government had announced 4 percent excise duty cut on automobiles. HMIL is India’s largest car exporter and the second largest car manufacturer. It plans to introduce new SUV models in India soon to explore the luxury car market in the country.