Hyundai to hike vehicle prices by up to 2% from June

Hyundai to hike vehicle prices by up to 2% from June

New Delhi: Hyundai Motor India (HMIL) on Tuesday said it will increase prices of its vehicles across model range, except newly-launched SUV Creta, by up to 2 percent from June to offset rising input costs.

Currently, HMIL sells a range of vehicles from entry-level small car Eon at a starting price of Rs 3.3 lakh to premium SUV Tucson priced up to Rs 25.44 lakh (ex-showroom Delhi).

Commenting on the price hike, HMIL Director – Sales & Marketing Rakesh Srivastava said, “We have been absorbing the increase in input costs with increase in commodity prices, freight increase with hike in fuel prices and also the increase in custom duties of certain components.”

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He further said, “We are now constrained to pass the same to customers in our products with increase up to 2 percent from June 2018.”

The company, however, said the increased prices will not be applicable to the newly launched 2018 edition of SUV Creta. The vehicle was launched yesterday priced between Rs 9.44 lakh and Rs 15.03 lakh (ex-showroom Delhi).