Hyundai cars will become more dearer as the vehicle manufacturer announces to hike prices across all the models to upto Rs. 30,000. The price hike is a result of unstable rupee value in the international market and the rise in production cost especially for the components that are currently being imported. Hyundai Motor India Ltd. (HMIL) is the country’s largest passenger car exporter and second largest car manufacturer.
Talking about the price hike, Hyundai Motor India Senior Vice President (Sales and Marketing) Rakesh Srivastava said –
“In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc. The proposed price increase up to Rs 30,000 will be effective from January 2016 across all models including Elite and Creta,”
Hyundai is not the only company to hike prices of their vehicles, many companies including Toyota, BMW, Mercedes, etc. have also consider similar option to tackle the and reduce the gap between the manufacturing cost and selling costs.
To read more on Hyundai India, Click here