Hyundai announces price hike

Hyundai Motor India has announced a price hike across all its models of the India line-up. The company has said that they will increase prices in the range of Rs 5,000 to Rs 25,000. This hike will be effective from January 2015.

Hyundai has attributed its decision to rising input cost, expensive imports due to rupee depreciation and high cost of sales.

Hyundai's vice president, sales and marketing has said, "In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales. We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs. 5,000 to Rs. 25,000, which will be effective from Jan 2015”.