Hyundai Motor to Hike Prices Across All Models in India

Hyundai Motor India Ltd (HMIL) on December 13 announced a proposed price increase across all its models up to Rs 1,00,000.

The company is constrained to consider a price hike in challenging year end market conditions, , keeping in account increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe, Mr Rakesh Srivastava, Sr Vice President, Sales and Marketing, said.

One of the latest launches by the brand was the new Hyundai Tucson, which was priced at a range between Rs 18.99 lakh and Rs 24.99 lakh, depending on the variant.

Also, an iconic Hyundai product was discontinued - the i10. The last i10 produced at HMIL’s factory was recently rolled out, marking the end of its nine-year production run.

Also read: Hyundai i10's Nine-Year Long Production Run Comes to an End

Factors behind it discontinuation could include low sales numbers have reduced to an average of 2000 per month. These were really low sales figures compared to the Grand i10 that sells over 11,000 units a month.

But, the brand has also set big numbers in sales in other countries like South Korea. The New Hyundai IONIQ sold a total of 1,425 units within the month of November in its home country.

Also read: New Hyundai Ioniq Sets Sales Record in South Korea