Hyundai Motor to hike prices of its models up to Rs.30K

New Delhi: South Korean car maker Hyundai Motor on Saturday announced an across-the-board price increase in all its models sold in India by up to Rs.30,000.

According to a company statement, the hikes will be effective from August 1.

Hyundai currently has ten car models across segments, including the Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra, Santa Fe and Creta.

Rakesh Srivastava, the company’s senior vice president for sales and marketing, said, “The price increase 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 increase in these challenging market environment.”

Hyundai Motor India is a wholly-owned subsidiary of the South Korean parent. It has its manufacturing plant near Chennai, and is currently India’s second largest passenger car manufacturer. (ANI)