Hyundai cars to be expensive from next month

Hyundai Motor India has confirmed in a statement that they would be hiking the prices of their cars by up to Rs 15,000 from early next month.

This price hike is mainly due to higher input and freight costs. Arvind Saxena, vice-president (marketing & sales) of HMIL spoke on this decision: “The hike can be expected on all models and it will be up to Rs 15,000.”

Hyundai is one of the dominating players in the market with models including Santro, Accent, Sonata available throughout the country.

The company is also due to launch a new model named Hyundai Verna in the Indian market soon.

Heung Soo Lheem, managing director of HMIL had recently said about the rising input costs for the company: “We have been absorbing the hike in production costs for some time. But all that put together is too much to absorb and thus we will raise prices.”