Latest Car News in India

Hyundai announces to hike car prices

The country’s second largest car maker Hyundai Motors India Limited has joined the league of other major car manufacturers who have recently announced to hike prices of their portfolio. The country’s second largest car maker Hyundai today said that it is going to hike the prices of the vehicle within a period of couple of weeks. The company has blamed the high input material cost for this price increase. The Korean firm, however, hasn’t disclosed the size of this proposed car price increase.

While announcing the company’s decision in the National Capital, HMIL vice-president (national sales & marketing) Rakesh Srivastava said that the variety of cost push factors have necessitated the price hike. He added that the company has tried to minimize the size of this hike so that it causes less inconvenience to the company’s valued customers.

At present, Hyundai India has over half a dozen vehicles in their Indian portfolio including the small car Hyundai Eon, compact hatchback Hyundai i10, premium hatchback Hyundai i20, entry level sedan Hyundai Accent, popular midsize sedan Hyundai Verna, premium sedan Hyundai Elantra and the luxury sports utility vehicle Hyundai Santa Fe.

Earlier this month, the major car makers like Maruti Suzuki, Honda, Renault, and General Motors had announced to hike the price of their India portfolio cars with showing similar reasons. GM India has raised the car prices in the range of Rs 2,000 to 8,000 this week. On the other hand, the Japanese auto giant Honda has raised the prices of their cars like Honda Brio, Honda Jazz and Honda City by up to 2.6 percent from the starting of this month. The French car maker Renault has raised the price of their Renault Duster SUV by up to Rs. 40,000.