Customers who take delivery from 1st Jan 2021, will have to pay the increased prices
In line with industry trends, Hyundai will be increasing prices of its cars from new year. The company has said that prices will be increased across the range. Increase in input and material costs has been cited as the reason for price hike. The revision in prices will vary depending on the product, fuel type and variant. The new prices will be revealed in January 2021.
Last opportunity for customers
For folks planning to buy a Hyundai car, just around two weeks are left to get it at current prices. It is possible that some models may witness a significant hike in prices. Hyundai’s current bestselling products include Creta, NIOS, Venue and i20.
Talking about Creta, the next-gen model was launched earlier this year in March at a starting price of Rs 9.99 lakh. With its updated styling and addition of several new features, Creta quickly raced to the top. It is currently the bestselling mid-size SUV in the Indian market. In November, a total of 12,017 units were sold, which is close to 80 percent jump in YoY sales. Creta is comfortably ahead of rivals such as Kia Seltos, MG Hector, Tata Harrier, Mahindra XUV500, and Jeep Compass.
Another next-gen product that customers can buy is Hyundai i20. This was launched in November and is witnessing strong demand. In just around 40 days, sales have crossed the 20k mark. More than 30k bookings have been received till date. Much of the demand is for the higher trims of all-new i20.
As may be recalled, the premium hatch was launched at an introductory starting price of Rs 6.8 lakh. It gets a range of updates including revised styling, more spacious cabin, 10.25 inch touchscreen infotainment system, Bose sound system, wireless charging and 50 connected car features.
In the entry level hatch segment, Grand i10 Nios has emerged as a popular choice. It has registered consistent sales around the 10k mark. In November, a total of 10,936 units were sold. This is YoY gain of 7.36%, as compared to 10,186 units sold in the corresponding period last year.
Hyundai Venue also continues to register good demand, even though YoY sales were slightly down in November. Venue is available at a starting price of Rs 6.75 lakh.
Price hike by other automakers
Similar to Hyundai, other carmakers like Maruti Suzuki and Kia have also announced price hikes from new year. Maruti has quoted that rising input costs will be passed on to customers, starting January 01. In case of Kia, the company’s bestsellers Sonet and Seltos are expected to witness substantial price hikes. However, the company won’t be increasing prices of its Carnival MPV.