Hyundai is the latest car manufacturer to announce a price increase across its line-up, effective January 2014.
The carmaker has stated that the price increase will vary from Rs 5,000 to Rs 20,000 across its portfolio, stemming from an increase in input costs on account of the Rupee depreciation.
Commenting on the price hike, Rakesh Srivastava, senior vice president, sales and marketing, said, “In these adverse market conditions there is a continuous increase in input costs on account of rupee depreciation and inflationary trends, this has made the price increase inevitable. We have been absorbing most of the costs but now we are compelled to consider the price increase. The quantum of price increase will vary from Rs. 5,000 to Rs. 20,000 across all our models.”
Hyundai's announcement comes after a fair few car manufacturers confirmed the same, including BMW, Audi, Mercedes-Benz, Mahindra, Volkswagen, Renault and Nissan.
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