Get ready to pay more if you want to buy a Hyundai car, except Creta.
Hyundai Motor India Ltd. said that will increase car prices across all models, excluding that of sports utility vehicle Creta, by up to Rs 30,000 from next month in view of rising input costs. The price increase would come into effect from 1 August, the company said in a statement.
The company sells a range of cars, including small cars Eon, i10, sedans Xcent, Verna and Sonata and premium sports utility vehicle Santa Fe in India, priced between Rs3.08 lakh and Rs30.21 lakh (ex-showroom Delhi).
“The hike has been necessitated by increase of input costs. We’ve been absorbing most of the costs but now we are constrained to consider the price rise in these challenging market environment,” said Rakesh Srivastava, senior vice-presiden (sales and marketing), Hyundai India.
Earlier this week, the company launched Creta at an introductory price range of Rs8.59-13.6 lakh (ex-showroom Delhi). Hyundai is India's second-largest carmaker by sales and largest exporter. India's car market, the world's sixth largest, is expected to grow to number three by 2020 as incomes rise.