Hyundai Cars Become Costlier; Prices Go Up By Up To Rs. 30,000

Earlier around mid-October, Hyundai India increased the prices for its popular premium hatchback Elite i20 and the Hyundai Creta SUV. Hyundai had increased the price of the Elite i20 by Rs. 2,000, while prices of the 1.4-litre diesel and petrol powered Creta went up by Rs. 10,000. On the other hand, price of the more powerful 1.6-litre diesel version of the Creta was hiked to Rs. 20,000.

Commenting on the recent 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."

Currently Hyundai Motor India owns only one manufacturing facility in the country, which is located near Chennai. Due to the recent torrential rains and flood that engulfed the city and its surrounding areas, Hyundai had to suspend its production operations. Hyundai's sole plant has been catering to both domestic as well as export markets, which makes this untimely halt in production all the more severe.