Hyundai India has increased the prices across its entire vehicle line-up by up to Rs 1.27 lakh. Hyundai is the latest automobile company in India to join this price hike bandwagon after Maruti, Honda and Chevrolet. The reason behind the price hike is cited as expiry of reduced excise duty concessions and to partially offset the impact of high input costs. The revised prices would be effective from January 1, 2015.
"In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost," Hyundai Motor India Ltd (HMIL) Sr Vice President, Sales and Marketing, Rakesh Srivastava said in a statement. The company has increased the prices across all models starting from Eon to Santa Fe in the range of Rs 15,000 to Rs 1,27,000 effective from January 1, 2015, added Srivastava. The price of small car Eon has been hiked by Rs 15,417. It was previously priced between Rs 2.88 lakh and Rs 4.03 lakh (all prices ex-showroom Delhi). Another compact car i10 will be dearer by Rs 21,501. The model used to retail between Rs 3.99 and Rs 4.77 lakh. Similarly, the car maker has hiked the price of Grand i10 by up to Rs 22,508. It was earlier tagged between Rs 4.41 lakh and Rs 6.43 lakh. HMIL said prices of compact sedan Xcent have been hiked by up to Rs 25,597. Before the hike, the model was priced between Rs 4.73 lakh and Rs 7.47 lakh.
The company further said the price of its premium hatchback Elite i20 has been increased by up to Rs 29,814 from its price ranging between Rs 4.99 and Rs 7.66 lakh. Mid-sized sedan Verna will cost Rs 23,965 more from the earlier price between Rs 7.39 lakh and Rs 11.72 lakh, the company said, adding executive sedan Elantra prices have also been been hiked by up to Rs 36,912. The sedan was previously priced between Rs 12.92 and Rs 16.24 lakh. Similarly, HMIL said the petrol variant of its premium sedan Sonata has been increased by up to Rs 45,396 from the previous price that ranged between Rs 18.74 lakh and Rs 20.78 lakh. Hyundai has also hiked the price of its premium sports utility vehicle Santa Fe by up to Rs 1.27 lakh. The vehicle was previously priced between Rs 25.60 lakh and Rs 28.41 lakh.