Hyundai Motor India (HMIL) has announced a price increase of up to 2%. The revised prices will be applicable for all the models across the range except the 2018 Creta facelift. The revised prices will be implemented from June 2018. This is the second hike by the Korean automobile manufacturer. The first hike of 2% came into effect from January 1, 2018.
Speaking on the occasion, Rakesh Srivastava, Director – Sales & Marketing, HMIL said that they have been absorbing the increase in input costs with increase in commodity prices, freight increase with hike in fuel prices and also the increase in custom duties of certain components. They are now constrained to pass the same to customers in their products with increase up to 2% from June 2018, he further added.
The new of the price hike comes barely a day after Hyundai India launched the 2018 Creta facelift compact SUV and the CVT variant of the Elite i20. Although the prices of the new Creta will remain unchanged, it is unlikely to be the same for the Elite i20 CVT.