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Hyundai to Increase Car Prices

By Motortrend India Staff   |   30 December,2008

Hyundai Motor India is set to increase car prices by up to 2%. The prices of the Hyundai car models are likely to get increased in the range of Rs 1,000 – Rs 18,000.

Speaking on the launch of Hyundai i20, Mr. H.S. Lheem, Managing Director of Hyundai said, “We are carefully studying the option and will go for a price adjustment in January. We will try to keep the hike minimum. It will be around as much as we took in June this year.”

Hyundai has also recently launched its five door compact car, Hyundai i20, in the price range of Rs 4.8-5.8 Lakh. The company plans to sell 15,000 units of the new car in the domestic market and about 2, 00,000 units in the international market.

Mr. Lheem in response to the present market scenario also states, “We have already invested Rs 6,000 Crore in the second plant and the new Kappa engine range. We had started work on the paint shop in the third plant, but that project, worth around Rs 100 Crore is now on hold. The third plant is also on hold.”

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