Hyundai to hike prices by Rs 5,000 upto Rs 25,000 from January

Hyundai, which is the second largest car maker in the country, currently sells ten models across the Indian market. "In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales," Hyundai Motor India Ltd Senior Vice President, Sales and Marketing, Rakesh Srivastava said in a statement.

The company has been absorbing most of the costs but is now constrained to consider price increase across all models in the range of Rs 5,000 to Rs 25,000 which will be effective from January 2015, he added.

The company's entry level compact car Eon is priced between Rs 2.87 lakh and Rs 3.89 lakh while its costliest model sports utility vehicle Santa Fe is priced between Rs 25.60 lakh and Rs 28.41 lakh (all prices ex-showroom Delhi).

Source: Automotive News view more Tech Reviews