Hyundai Motors India Limited has announced a price hike of their models from the Eon to Santa Fe. This price hike is to come into effect from 1st November 2012 just prior to the festive season. Citing reasons of increase input costs and higher costs of spares, Mr Rakesh Srivastava – VP – National Sales and Marketing at Hyundai Motors India Limited has stated that prices have been increased very marginally so as to not cause inconvenience to customers.
Hyundai Motors India Limited sell a wide range of models right from their entry level Eon which is priced from Rs 2.75 lakhs to the Santa Fe SUV which is priced upwards of Rs. 5.38 lakhs. This price hike is inevitable and follows similar price hikes announced by other auto manufacturers such as General Motors who announced a price hike across its entire range of products from Rs.8,000 to Rs.12,000. Maruti Suzuki, Honda Cars, Renault and Audi too have increased prices of various models to offset foreign exchange fluctuations and rising input costs.
Commenting on the price hike Mr. Rakesh Srivastava, Vice President – National Sales and marketing, Hyundai Motor India Ltd., said, “The price increase has been necessitated by a variety of input costs. We have tried to minimize the price increase to cause less inconvenience to our valued customers.”