Hyundai India, joining the bandwagon, has also announced the price increase across its models starting from Eon to Santa Fe. The price hike would be ranging from Rs. 3000 to Rs. 20000 across models, while effective from August 16, 2016. The company's current range of vehicles start at Rs. 3.25 Lakhs for the Eon, while the flagship Santa Fe is priced at Rs. 31.75 Lakhs (all prices, ex-showroom Delhi). A few days back, Maruti Suzuki, Hyundai's arch rival and country's largest automaker, has announced price hike across its entire model range.
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “The rupee depreciation and increase in raw materials cost have impacted our overall costs. We have been absorbing most of the costs but now we are compelled to consider the price increase. We will be increasing the prices from August 16, 2016 by Rs. 3,000 to Rs. 20,000 across models.” The primary reason behind the increase in price is said to offset the rising production costs. The South Korean automaker showcased Tucson SUV and Carlino sub 4-meter SUV concept at the 2016 Auto Expo in February. But, the first launch from Hyundai would be the updated Elantra sedan, for which bookings have started at dealer-level at some of the company authorized dealerships.
Hyundai is all set to introduce the first Anniversary Edition of Creta SUV in the Indian market. It was showcased last month and the keys to the first unit were handed over to Saina Nehwal during an event. The company sold more than 13,000 units of the Creta SUV in July 2016, meanwhile registering a sales growth of 50 percent over the same month last year. Just so you know, Hyundai sold 6783 units of Creta in July 2015. The SUV has touched the 80,000 units sales mark in the country, while the bookings are over 1.2 Lakhs. It accounts for 50 percent of total sales of compact SUV segment in India.