Hyundai Motor India will increase prices across models by upto Rs. 5000 effective from November 1st. Many car makers are increasing prices of key selling models just before the festive season. A few companies have also discontinued discounts.
During the Diwali festive season customers prefer buying new cars as it is considered as an auspicious occasion.
The price increase will affect all the models staring from Eon to Santa Fe.
Commenting on the price hike Mr. Rakesh Srivastava, Vice President – National Sales and marketing, Hyundai Motor India Ltd., said, “The price increase has been necessitated by a variety of input costs. We have tried to minimize the price increase to cause less inconvenience to our valued customers.”
With new Alto from Maruti Suzuki, Hyundai has launched an advertisement blitz stating Eon as India’s new trendsetter. The company launched the Elantra sedan which has so far received good response, but performance can be judged only after a couple of months.
The company is also working on a new diesel engine for the i10 hatch and it will debut on the all new i10 which will go on sale in 2013-14. Hyundai Motor India is the largest passenger car exporter and the second largest car manufacturer in India. With Tata Motors planning to launch upto six new models in the next one year, the South Korean car maker will have to work on a new strategy to retain its second position.