Hyundai India Announces Price Hike; Creta Remains Unaffected
NDTV Auto Team
1 min read
Jul 25, 2015, 05:45 PM
Hyundai, that launched the Creta compact SUV in India this week, today announced a price hike of up to Rs. 30,000. To come in effect from August 1, 2015, the increase in prices affects all models across its line-up in the country with the sole exception of the Creta.
Also Read: Hyundai Working On An MPV and Sub-4 Metre SUV For India
Mr Rakesh Srivastava, Senior Vice President - Sales and Marketing, Hyundai Motor India Ltd., said, "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."
The slow-moving sales in recent times have lead carmakers in India to offer increased discounts in order pursue buyers. This, in turn, continues to heave pressure on carmakers as they aim at bigger share of the market. It remains to be seen if Hyundai's price hike causes other manufacturers to follow suit.
Also Read: First Drive: Hyundai Creta
Hyundai's current line-up in India comprises 10 models, with the latest addition being the Creta compact SUV.
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