It seems that India’s second largest car maker Hyundai motors have been getting a serious hit from high cost as they recently announced the price hike of up to Rs. 30,000 across all its variants with the sole exception of newly launched Creta SUV. The car maker says the decision was made due to high input costs. However, nowadays various companies are offering number of offers and discounts due to sluggish sales while surprisingly Hyundai has raised the prices of its models.
The price hike would come into effect from 1st August 2015 and will affect Hyundai Eon to Santa Fe. More companies are expected to follow the price hike spree soon as the festive season is just around the corner.
Mr. Rakesh Srivastava, Senior Vice President – Sales and Marketing, Hyundai Motor India Ltd., said, “The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are constrained to consider the price increase in these challenging market environment.”
Hyundai’s current lineup embraces of 10 models including Hyundai Eon, i10, Grand i10, Xcent, Elite i20, i20 Active, 4S Verna, Elantra, Santa Fe and newly launched Creta SUV. The South Korean automajor is also the second largest in India with around 16% market share.
The recent time period has been the slow moving one for the manufactures and resulted in sluggish sales. To deal with it carmakers have had to launch various schemes, offers and discounts to woo the customers and to improve their buying environment. If you want to buy a Hyundai we suggest to you to grab it now as after 1st August 2015 it will become dearer to your wallet than before.