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India’s second-largest carmaker, Hyundai Motor India (HMIL) will raise prices of its cars by upto 2 percent, effective from January.
This year’s hike is half the price hike it made last year, according to Hyundai. This year, the hike will remain up to ₹50,000, even for the Tuscon, which is the most expensive model in its line-up. Commenting on the hike, Rakesh Srivastava, Director – Sales & Marketing, said, “We have been absorbing the increase in input and material costs but now are constrained to increase the prices by 2 percent.” Between April and November, Hyundai sales went up by 5.14 percent, where the Company sold 3.58 lakh units, in comparison to the same period, last year.
The company has raised prices like most other carmakers. Others with similar hikes for 2018 are Maruti Suzuki, Tata Motors, Mahindra, Toyota, Jeep, Renault, Volkswagen, Skoda, Isuzu and Nissan.