Hyundai cars will now cost up to Rs 30,000 more in the Indian market. Hyundai Motor India Ltd (HMIL) has increased the prices of all the models, except that of the latest SUV Creta, from August 1 in view of rising input costs.
"The hike has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are constrained to consider the price rise in these challenging market environment," said Rakesh Srivastava, senior vice president - sales and marketing at HMIL.
The Korean auto giant has a wide range of cars in the Indian market - small cars like Eon and i10, sedans Verna and Sonata, and premium sports utility vehicles Creta and Santa Fe, priced between Rs 3.08lakh and Rs 30.21lakh (ex-showroom Delhi).
Earlier this week, the company launched Creta at an introductory price range of Rs 8.59 lakh and 13.6 lakh (ex-showroom Delhi). Srivastava also said at the launch that "the company will take a call on the prices of Creta depending on market performances during the upcoming festive season."