Alike most of the automakers, Hyundai Motors too announced price hike of its cars from January 1, 2018. As per the report, the second largest car maker in India has announced that it will be increasing the prices of its car by 2 per cent from the New Year.
The South Korean car maker is eleventh car maker to announce the price hike. In the last couple of days most of the car manufacturers in the country have already declared their plan to increase prices of their cars from the coming year. Most of the auto makers are set to increase their prices from January 1, 2018
Hyundai joins the price hike bandwagon in India
After Maruti Suzuki, Hyundai Motor has become the latest car maker in the country to join the price hike bandwagon. Similar to other car makers, Hyundai too has attributed the increase in the car prices to the hike in the input and the material costs. The company has announced that it will be increasing the prices of its cars by 2 per cent from January 1, 2018. The revised prices will be implemented from the beginning of next year though there are chances that some authorized dealers might offer New Year discounts on some models which will entirely depend on the car seller.
Price hike announcements from all major car makers, including the largest car manufacturer in India – Maruti Suzuki, have recently revealed that almost all the car maker are increasing the prices across their product line-up by up to 2-3 per cent.
Hyundai’s price hike in 2018 is lesser than 2017
The price hike announced this year by the second largest car manufacturer is half the price hike it made in 2016. According to the report, the car company had increased the prices of its cars across its product line-up by up to Rs 1 lakh.
Other automakers who have announced price hike of their models from January 2018 include Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Toyota, Renault, Jeep, Volkswagen, Isuzu, Skoda, and Nissan. With the price hike, automaker’s product line-up will become costlier by 2 per cent. Currently, Hyundai cars that are being sold in India, are categorised as compact, mid-size, executive, premium and SUV by the automaker. Hyundai’s product line-up in India includes Eon, Grand i10, Elite i20, i20 Active, Xcent, Verna, Elantra, Creta and the Tuscon.
Source: NDTV
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