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Hyundai hikes prices of its line-up by two per cent

May 22, 2018, 05:47 PM IST by Bilal Ahmed Firfiray
Hyundai hikes prices of its line-up by two per cent

-    Newly launched Creta facelift unaffected by the price hike.

-    This is the second price hike this year by the Korean carmaker.

-    The revised prices will be implemented from June 2018.

Hyundai India announced a price of two per cent on its entire range effective from June 2018. However, the newly launched Creta facelift will continue with its launch prices unaffected by the price hike. The Korean carmaker maintains that this increase in price is due to rising input costs.

Commenting on the increase in prices, Rakesh Srivastava, director, sales and marketing, HMIL, said, “We have been absorbing the increase in input costs with an increase in commodity prices, freight increase with the hike in fuel prices and also the increase in custom duties of certain components. We are now constrained to pass the same to customers in our products with an increase up to two per cent from June 2018.”

This is the second price hike for Hyundai this year after the yearly price revision in January. But the Korean carmaker has protected the pricing of the refreshed Creta which was launched yesterday for a price of Rs 9.43 lakhs. The same was done to the new Verna when it was launched in September last year. Back then, the carmaker didn’t let the revised GST cess affect the Verna pricing until early 2018.

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