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Korean carmaker Hyundai has announced a price hike varying from Rs. 5,000-20,000 across its line-up, effective January 2014.
Commenting on the price hike, Rakesh Srivastava, senior vice president, sales and marketing, said, “In these adverse market conditions there is a 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.”