Hyundai India, the country's second largest car manufacturer and largest passenger car exporter, has announced the price rise across its product range in the country with immediate effect. The reason behind this decision of raising the prices is increase in excise duty and higher input cost. Citing the same reason, Honda, Maruti Suzuki, Mahindra and others have already increased prices of their cars.
The South Korean automaker has hiked the prices of all its models. Now, the Hyundai cars will be pricier by up to Rs. 1.27 lakh. Its entry-level Eon hatchback is now pricier by Rs. 15,000, while the top-selling Elite i20 gets costlier by Rs. 27,518 to Rs. 29,814. Talking about Verna sedan, buyers will have to pay around Rs. 37,000 more. Its only SUV, the Santa Fe, now costs Rs. 1.27 lakh more while the Sonata sedan gets dearer by Rs. 45, 396.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost. We have increased the prices across all models starting from Eon to Santa Fe in the range of Rs.15, 000 - 1, 27,000 effective from January 01, 2015.”
