Hyundai To Hike Car Prices From January

If you were planning to buy a Hyundai car next year, we have some bad news for you. The South Korean carmaker has decided to hike prices by up to Rs 30,000 across its entire range of vehicles in India starting January 2019.

According to Hyundai, the upcoming hike in prices is mainly due to a significant increase in operating costs. To make matters worse for carmakers, hardening interest rates and a sharp increase in raw material prices, including those of steel, have also led to an increased pressure on the industry.

With the latest price hike, Hyundai has joined a long list of carmakers which include the likes of Toyota, BMW, Volkswagen, Skoda and Maruti. The price hike in January is mostly cyclical as most carmakers revise their pricing upon the turn of the year.

Here is what Hyundai said on the announcement.
Press Release:
New Delhi, December 20, 2018: Hyundai Motor India Ltd. (HMIL), the country’s largest passenger car exporter and second largest car manufacturer since inception today announced a price increase up to Rs 30,000 on account of increase in input costs. The new prices will be effective from January 2019 across all models.

About HMIL
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the second largest car manufacturer and the number one car exporter since inception in India. It currently has ten car models across segments – EON, All New SANTRO, GRAND i10, ELITE i20, ACTIVE i20, XCENT, VERNA, ELANTRA, CRETA & TUCSON. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities.
HMIL forms a critical part of HMC’s global export hub. It currently exports to around 88 countries across Africa, Middle East, Latin America, Australia and Asia Pacific. To support its growth and expansion plans, HMIL currently has 491 dealers and more than 1,310 service points across India. In its commitment to provide customers with cutting-edge global technology, Hyundai has a modern multi-million-dollar R&D facility in Hyderabad. The R&D centre endeavours to be a center of excellence in automobile engineering.

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