Hyundai Motor India to Hike Each Model Price by Rs.30000, CRETA Exempted

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South Korean Automobile giant, Hyundai Motor India Ltd has announced the price hike in all its models except the newly launched SUV CRETA up to Rs. 30,000 from August 1.

Also read: Hyundai CRETA All Set to Enter Indian Market Tomorrow: Full Specs and features

“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.” Mr. Rakesh Srivastava, Sr. VP – sales and marketing, Hyundai Motor India Ltd.

India’s car market, which is world’s sixth largest is expected to grow three by 2020 as income rise. In this in-active buying environment, Hyundai was in constant pressure to sustain high level of discounts to attract buyers in India. This price rise may put pressure on other car makers to increase their prices.

Also readHyundai CRETA SUV Launched at Starting Price of Rs 8.59 lakh; Specs Justify Price?

After two decades in India, and becoming the second largest car manufacturer in the country now Korean Automobile giant has decided to invest Rs 4,500 crore to boost the production capacity to over a million vehicles.

Also readHyundai Creta Creates Curiosity as Pre-bookings Cross 10000

According to reports recently Hyundai launched a special monsoon discount up to Rs. 70,000. This sudden rise in the price will surely break a lot of hearts, who wished to buy a Hyundai car this year.

Earlier, following discounts were offered on Hyundai models:

Hyundai Verna (Petrol & Diesel) – Savings up to Rs. 50,000

Hyundai Grand i10 (Petrol & Diesel) – Savings up to Rs. 26,000

Hyundai Eon Petrol – Savings up to Rs. 23,500

Hyundai Eon CNG – Savings up to Rs. 26,000

Hyundai i10 Petrol – Savings up to Rs. 37,500

Hyundai i10 CNG – Savings up to Rs. 42,500

Hyundai Xcent (Petrol & Diesel) – Savings up to Rs. 28,000

Hyundai Elantra (Petrol & Diesel) – Savings up to Rs. 60,000

Hyundai Santa Fe – Savings up to Rs. 70,000

However, there was no discount in i20 Elite, the top-selling car of Hyundai, that costs from Rs.5.3 lakhs onwards.

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