South Korean auto major Hyundai has increased prices of all models in India by up to ₹1.27 lakh, citing rollback of excise duty cuts and rising input costs. The hike is effective from 1 January.
"In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost," PTI quoted Rakesh Srivastava, Sr. Vice President, Sales and Marketing, as saying.
With the latest hike, the price of Hyundai's small car Eon has gone up by ₹15,417, while prices of models like i10 and Grand i10 have been hiked by ₹21,501 and ₹22,508 respectively.
Hyundai's latest offering Elite i20 has also become costlier by ₹29,814.
Elite i20 has been earning tremendous responses in the country from buyers since its entry in August.
Offered in both petrol and diesel engine options in India, Elite i20 comes in five trims -- Era, Magna, Sportz, Sportz (O) and Asta. Under the hood, the car packs 1.2 litre petrol engine and 1.4 litre CRDi diesel motor.
Among all Hyundai models, the maximum increase is in the price of its premium sports utility vehicle Santa Fe, of 1.27 lakh.
Recently, Honda increased prices of its models in India by up to ₹60,000.
Check Hyundai model prices here (all prices ex-showroom Delhi)
|Models(Petrol and Diesel)||Price lakhs (Before)||Increase|