Barely a week after launching the Creta compact SUV/crossover, Hyundai has announced that it will increase the prices of all other models in its range beginning August 2015.
“The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are constrained to consider the price increase in these challenging market environment,” said Rakesh Srivastava, Senior Vice President Sales and Marketing, Hyundai Motor India.
Apart from the increasing input costs, Hyundai is also experiencing a gradual slowdown in sales since March this year. In the past six months Hyundai has seen an increase in sales numbers, on a yeartoyear basis, of around 8 per cent.
There are reports which suggest that the company’s argument of increasing input costs may not hold much ground considering the prices of many raw materials used in the production process of automobiles have seen a decline. Hyundai will increase the prices of the models, except the Creta compactSUV, by a maximum of Rs. 30,000 depending on the model and variant. This could be a ploy to make the models look more attractive during the upcoming festive season, Hyundai could offer massive discounts on almost all of their cars during the period without losing out much in terms of profits.
The current Hyundai range is as follows:
Eon entry level hatchback launched 2011, priced from Rs. 3.09 lakh to Rs. 4.26 lakh.
i10 compact hatchback facelift launched 2010, from Rs. 4.18 lakh to Rs. 5.02 lakh.
Grand i10 hatchback launched 2013, from Rs. 4.66 lakh to Rs. 6.74 lakh.
Elite i20 premium hatchback launched 2014, from Rs. 5.30 lakh to Rs. 8.06 lakh.
i20 Active faux crossover launched 2015, from Rs. 6.39 lakh to Rs. 8.90 lakh.
Xcent compact sedan launched 2014, from Rs. 5.01 lakh to Rs. 7.79 lakh.
Verna 4S sedan launched 2015, from Rs. 7.75 lakh to Rs. 12.22 lakh.
Elantra premium sedan facelift launched 2015, from Rs. 14.13 lakh to Rs. 17.94 lakh.
Santa Fe launched 2014, from Rs. 26.89 lakh to Rs. 30.21 lakh.
Creta – launched 2015, from Rs. 8.60 lakh to Rs. 13.58 lakh.
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