Hyundai to Increase Rs.5,000 on Cost of all Models
Hyundai Motor India Ltd. announced today their plans to increase the prices on all the models in their stables starting from the Hyundai Eon to the Hyundai Santa Fe. This of course comes as no surprise as auto makers all over the country have taken to this practice of hiking up their prices. However the price hike is noticeably small as compared to most other automakers.
The price will go up by as much as Rs. 5,000 on all the models in Hyundai’s stables and is set to come into effect from the 1st of November, 2012. Commenting on the reasons for this increase in prices, Mr Rakes 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.”
Since this is now a wide spread practice among all Indian auto makers, it is unlikely this will have any profound effect on Hyundai Motor India’s sales figures or the brands popularity in the Indian market.