Following the market leader Maruti Suzuki, Hyundai India has also announced hike in prices of all it’s models from entry level Eon to the range-topping SUV Santa Fe. The rise in the prices are from ₹ 3,000 to ₹ 20,000 depending on the model and will be applicable from August 16.
Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “The rupee depreciation and increase in raw materials cost have impacted our overall costs. We have been absorbing most of the costs but now we are compelled to consider the price increase.” It was expected from the car makers after the largest manufacturer of the country Maruti Suzuki announced price hike few days back.
Hyundai is performing steadily in the market with some of it’s popular models such as Grand i10, i20 and Creta are dominating their respective segments. The Korean car maker are also set to launch their two new models, New generation Elantra next month and the Tuscon SUV later this year to expand it’s customer base across the segments.
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