Hyundai Motor India to raise vehicle prices

New Delhi: Automobile major Hyundai Motor India (HMIL) on Tuesday announced a proposed price increase across all its models up to Rs 1,00,000.

The price increase will be effective from January, 2017.

“In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses,” Rakesh Srivastava, Senior Vice President, Sales and Marketing, HMIL was quoted as saying in a statement.

“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.”

On Monday, Tata Motors had informed that it will hike the prices of its passenger vehicles by Rs 5,000 to Rs 25,000 due to the impact of various macro-economic factors.