Hyundai India increases car prices by upto INR 20,878
Close on the heels of many brands increasing prices of their models, Hyundai Motor India Limited also sought the same action by announcing a price hike for their range of vehicles.
The new prices, will be effective immediately from 1st Feb 2013. This is the first price hike from Hyundai for 2013 and it will see prices of models ranging from Eon to Santa Fe hiked by up to Rs. 20,878.
The hike comes at a time when market conditions are not very fruitful for auto manufacturers. The raise in prices will help overcome fluctuating Indian Rupee rates and rise of input costs. Prices will rise from Rs. 4,201 to Rs. 20,878 across all models. Prices of the Eon and Santa Fe before the hike were Rs. 2.77 lakh-Rs. 3.83 lakh and Rs. 22.61 lakh-Rs. 25.63 lakh respectively. After rise in prices the Eon will be dearer by Rs. 5,000 while the SUV Santa Fe will be costlier by Rs. 20,878. Apart from the price hike, Hyundai will be launching a new compact car later on this year. The vehicle will be based on the current i10 and will compete with Maruti Suzuki’s Ritz and Swift, newly launched Chevrolet Sail and Tata Indica.
Last month Maruti Suzuki, largest car maker in India (Hyundai is second) had also increased prices of their vehicles citing fluctuating economy patterns. Honda Cars India and Toyota Kirloskar too hiked their car prices.