The country’s largest passenger car exporter and second largest car manufacturer, Hyundai Motor India Ltd. (HMIL) announced that it will be increasing the prices across all its models in the month of January-2015.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said –
“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. We have been absorbing most of the costs but are 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 Jan 2015.”
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