Hyundai To Increase Prices Across Portfolio

Hyundai Motor India Limited (HMIL) has announced that they are going to increase the prices of its cars by up to Rs 1,00,000 across its entire portfolio (from the Eon to the Santa Fe). The new prices will be effective from January 2017 and just like the other carmakers across the nation, Hyundai's reason for the price hike is the same - increase in the cost of the raw materials. The increase in the input cost now seems to be one of the major reasons for all carmakers to increase the prices of their products. 

Speaking about the increase in the prices, Rakesh Srivastava, vice president, Hyundai Motors, stated, “In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs. 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe.”

2016 has been one of the best years for the South Korean automaker as the Creta turned out to be a big success. Hyundai also launched two premium cars (Elantra and Tuscon) earlier this year. For buyers who are willing to purchase a Hyundai car, this is the best time as the December Delight Offer is only valid till December 25, 2016. Sadly, the offer is not valid on the i20 Active, Creta, Elantra, and Tucson. Apart from these cars, buyers can avail discounts up to Rs 50,000 to Rs 2 lakh on other cars in Hyundai's portfolio.