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Hyundai India announces price hike of up to INR 30,000; no impact on Creta

Hyundai India prices August 2015

As usual, the price hike is necessitated by increasing input costs.

Hyundai Motor India Ltd. (HMIL) has announced that it will hike the prices of its models by up to INR 30,000, effective from August 1. The hike will not affect Hyundai Creta which was launched earlier this week with a price range of INR 8.59 – INR 13.60 lakhs (ex-showroom, New Delhi).

Hyundai India prices August 2015

Hyundai recently skimped on Elite i20 features without reducing the price tag and now a price hike is in the offing.

Further details on pricing of individual models are expected to be available on August 1. Hyundai’s product portfolio which starts with Eon and goes all the way up to Santa Fe currently has a price range of INR 3.08 lakhs to INR 30.21 lakhs (ex-showroom, New Delhi).

Rakesh Srivastava, Sr. Vice President – sales and marketing, Hyundai Motor India, said that the company has been absorbing most of the costs but the challenging market conditions have forced a price hike now.

The South Korean marque is the second largest automaker in India with a market share of around 17%. A hike by Hyundai could be followed by similar move from competitors as well.

Hyundai Creta Launch

Hyundai Creta will not be affected by the impending price hike.

Moving forward, Hyundai India is focusing on bring a Maruti Ertiga-rivaling MPV codenamed IP sometime next year. Hyundai MPV in question is reported to be based on a cost-effective version of Creta’s platform. There are also talks about a possible sub-4 m crossover.

About the author

Nithyanandh Karuppaswamy

Winner of national level automotive quiz competitions, Nithyanandh aka Nithz jumped into the blogosphere right after gaining a degree in Mechanical Engineering. Love for automobiles and an even greater drive to share his knowledge with the automotive community, Nithz is Deputy Editor at RushLane.

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