Following Honda's announcement of price hikes, Hyundai has joined the ranks. The Korean carmaker has announced a price hike on all the models across its portfolio in India. Effective immediately, all Hyundai models will become dearer by Rs 15,000 - 1,27,000. Hyundai sells the Eon, Santro, i10, Grand i10, Xcent, i20, Verna, Elantra, Sonata and the Santa Fe in India.
The price hike comes in the wake of the recent rollback of the reduced excise duty by the government, a situation that seems to have aggravated the existing issue of rising input costs that car manufacturers keep facing.
“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.” said Rakesh Srivastava, senior VP - sales and marketing, Hyundai.