Latest Car News in India

Friday, December 09, 2011

By Pranjal Gera

Hyundai car price to go up by 1.5-2 percent hike in January

Hyundai motor India has recently announced its plans to raise the prices of its vehicles by up to 2 percent from the first week of January, 2012 due to constant economic hurdles like devaluation of rupee and inflation.

Arvind Saxena, Hyundai Motor India’s Director- Marketing and Sales said, the company is working on to increase the prices of various models across all the ranges by upto 1.5 to 2 percent. The hiked prices will be validated in January.

Reasoning towering inflation, rupee devaluation and increasing fuel prices, he further said, that all these dynamics have made the situation so difficult to manage the operating cost. However, most of the car makers have been facing a hard time due to their substantial imports from overseas, and the current economic factors have only increased the importing cost, so as manufacturing.

Company expects to increase the prices of all its available models including the top selling Hyundai i10, Hyundai i20, Hyundai Verna and Hyundai Santro.

The other car makers including General Motors, Ford India, Toyota Kirloskar Motor have also announced to escalate their prices by upto 3 percent from the next month.

Although, the market leader Maruti Suzuki and Tata Motors have not publicized their increase plans, but the current market dynamics has made it compulsory for them too to take the needed actions.

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