Second largest car manufacturer in the country, Hyundai India today revealed that they will be increasing price of all their cars. This latest price hike will also affect their newly launched Creta, whose price was just recently hiked in October 2015.
As per Hyundai India, the price hike was inevitable. There is nothing they could have done to keep the cars priced same. The reason for the price hike as stated by Hyundai India are “factors like increase in cost of components, weak rupee etc.” Though the carmaker did not specify the new price of their respective model, they did say that the price will be hiked by up to INR 30,000.
Sales of Hyundai India have been constantly increasing, ever since the car manufacturer started launching their new generation cars. It all started with the new Grand i10. Thereafter the carmaker launched Xcent, Elite i20, i20 Active, and Creta. All these new cars have scripted success on the sales charts. So much so that, Hyundai India has to cut down on exports in order to meet the growing domestic demand.
In order to sustain the growth, Hyundai India has announced that every year they will launch two new cars in segments where they are currently not present. In 2016, Hyundai is expected to launch a new 7 seater MPV to rival the likes of Maruti Ertiga, and a compact sub 4 meter SUV to rival the likes of Ford EcoSport and upcoming cars like Tata Nexon and Maruti YBA.