Hyundai Motor India (HMIL) recently announced a proposed price increase across all its models up to INR 1,00,000 (1 lakh). The announcement comes just a few days after Tata Motors announced a price hike effective January 1st 2017.
Commenting on the price hike, Rakesh Srivastava, Senior Vice President, Sales and Marketing said that in these challenging year end market conditions, they are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to INR 1 lakh. These prices will be effective from January 2017 across all models from the Eon to the Santa Fe.