Hyundai Motor, the second largest automobile manufacturer in India has announced its decision to increase prices across all its car models with effect from February 1, 2013. The upcoming price increment has been attributed by the carmaker to the rise in input costs as well as the fluctuations in the Indian rupee.
The prices by Hyundai India will be raised by up to Rs 20,000 effective February 1, 2013 on car models starting from the entry level Eon small car to the Santa Fe SUV, stated Mr. Rakesh Srivastava Vice President (Sales and Marketing) Hyundai Motor India Ltd (HMIL).
Hyundai India is among other carmakers in India who have either already increased prices or have already announced price hikes. The market leader Maruti Suzuki has also announced a price hike of 1-3 percent across its product portfolio citing similar reasons.
