Hyundai Motors India increased prices across its model range (Eon to Santa Fe) wef from 1st January 2015. Price hike ranges from Rs 15,000 – 1.27 lakhs as confirmed by Sr. Vice President, Sales and Marketing, Mr. Rakesh Srivastava.
Hyundai Eon, the company’s small entry level car which was earlier priced from INR 2.88 lakhs to INR 4.30 lakhs will see a price hike of INR 15,417 while the Hyundai i10 will see a price increase of INR 21,501. Hyundai Grand i10 will be costlier by 22,508, while the company’s compact sedan Xcent which was earlier priced between INR 4.37 lakhs to INR 7.47 lakhs will be costlier by INR 25,597.
Likewise, the company has also increased prices of its Elite i20 premium hatchback by INR 29,814 and Verna mid sized sedan by INR 23,965. Hyundai Verna was earlier priced between INR 7.39 lakhs and INR 11.72 lakhs. The Elantra executive sedan which was priced between INR 12.92 lakhs and INR 16.24 lakhs will be increased by 36,912 while the Sonata will see a price increase by INR 45,396. The top of the line Hyundai Santa Fe premium sports utility vehicle will see a price hike of INR 1.27 lakhs while earlier prices were at INR 25.60 lakhs to INR 28.41 lakhs. This price hike is inevitable as the company is no longer able to sustain increased input costs and increase in excise due to lower profit margins. Auto companies are anxiously awaiting relief from the first full Budget in February.