Hyundai India to increase prices of its cars varying from Rs 5,000 to Rs 20,000

Hyundai Motor India Ltd (HMIL), largest passenger car exporter and second largest car manufacturer had announced the price increase across all its models, according to a company statement.
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Commenting on the price hike, Rakesh Srivastava, Senior Vice President, Sales and Marketing said: “In these adverse market conditions there is continuous increase in input costs on account of rupee depreciation and inflationary trends, this has made the price increase inevitable. We have been absorbing most of the costs but now we are compelled to consider the price increase. The quantum of price increase will vary from Rs 5,000 to Rs 20,000 across all our models”. The price increase across all the models would come into effect in January 2014.
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the largest passenger car exporter and the second largest car manufacturer in India. It currently markets nine car models across segments – in the A2 segment it has the Eon, Santro, i10, Grand  and the i20, in the A3 segment the Verna, in the A4 segment the Elantra, in the A5 segment Sonata and in the SUV segment the Santa Fe.
HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities. HMIL forms a critical part of HMC’s global export hub. It currently exports to around 120 countries across EU, Africa, Middle East, Latin America, Australia and the Asia Pacific. HMIL has been India’s number one exporter for the past eight years consecutively. To support its growth and expansion plans, HMIL currently has 382 dealers and more than 980 service points across India. In its commitment to provide customers with cutting-edge global technology, HMIL set up a modern multi-million dollar R&D facility in Hyderabad. The R&D center endeavors to be a center of excellence in automobile engineering.

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