Hyundai India has announced a price hike across its entire model range by Rs. 30,000 in the country. The price hike would be in effect from January 1, 2016 across all company cars, including Creta compact SUV and i20 Active crossover. Just so you know, the South Korean automaker, recently, donated Rs. 2 Crores in the Chief Minister's Public Relief Fund for Chennai flood victims.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc. The proposed price increase up to Rs. 30000 will be effective from January 2016 across all models including Elite and Creta.” Hyundai's arch rival and country's leading automaker Maruti Suzuki has also announced a price hike across all its models up to Rs. 20,000. Similar to Hyundai, it would be effective from January 1, 2016 in the country.
Hyundai is ready to foray into the highly lucrative MPV segment by introducing an all-new product in 2016 in India. The MPV is question here is said to be based on HexaSpace concept, while deriving its design cues from the Grand i10 hatch. It is also being learnt that the company is keen to launch an all-new sub 4-m SUV to challenge the likes of Ford EcoSport and yet-to-be-launched Maruti YBA. The Creta compact SUV, Hyundai's latest offering in the country, is doing exceedingly well as it has outnumbered all its contemporaries, including Renault Duster, Nissan Terrano and Maruti Suzuki S-Cross.