Hyundai Motors India has announced that it will soon hike the prices of all its vehicles to combat an increase in input costs. The Korean automaker has not yet specified the quantum of the hike but confirmed that it will come into effect in the next couple of weeks.
Commenting on the hike, Rakesh Srivastava, vice president - national sales and marketing, said "The price increase has been necessitated by a variety of cost push factors like increase in raw material prices and freight increase.”
Hyundai is the fourth company after Honda, Maruti Suzuki and General Motors to hike the price of its vehicles due increase in input costs. Honda raised the price of the Jazz, City and Brio in the range of 0.2 to 2.6 per cent while small car major Maruti Suzuki raised its prices by up to Rs 5250. General Motors has hiked the cost of its cars in the range of Rs 8000 to Rs 20,000.
