The Chennai-based Hyundai Motor India has announced a price hike on the range of its vehicle effective January 1, 2015 attributing to a host of reasons.
In a company statement, Rakesh Srivastava, Senior Vice President, Sales and Marketing, HMIL said: In these adverse market conditions, the price increase is necessitated on account of increase in input costs, high cost of imports due to higher rupee depreciation and high cost of sales. We have been absorbing most of the costs but are now constrained to consider price increase across all models in the range of Rs. 5,000 to Rs. 25,000 which will be effective from Jan 2015.”