Hyundai Motor India Ltd. (HMIL), the country’s largest passenger car exporter and second largest car manufacturer announced the price increase across all its models.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said –
“In these adverse market conditions there is continuous increase in input costs on account of rupee depreciation and inflationary trends, this has made the price increase inevitable. We have been absorbing most of the costs but now we are compelled to consider the price increase. The quantum of price increase will vary from Rs. 5,000/- to Rs. 20,000/- across all our models.”