Hyundai India hikes prices of its model range by up to Rs 25,000

Joining the long list of automakers who are about to announce an upward revision in prices starting next year, Hyundai has announced that it will be increasing the prices across all its models by up to 25,000. The revised prices will be effective from January 2015.  

Although Hyundai has not disclosed any details regarding the exact price hike on their respective models, the revision translates into a price hike ranging between Rs 5,000 to Rs 25,000, depending upon the model. The reason cited for the price hike, as always is the devaluation of the Indian rupee, leading to an increase in the cost of raw materials.

Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales. We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs. 5,000 to Rs. 25,000 which will be effective from Jan 2015.”