Hyundai Motor India Limited (HMIL), a wholly owned subsidiary of Hyundai Motor Company (HMC), is the largest passenger car exporter and the second largest car manufacturer in India. In order to meet the increased input cost, HMIL has announced a proposed hike in all the models of Hyundai. This will be applicable for the Hyundai upcoming SUVs also.
Mr Rakesh Srivastava, Vice President – National Sales and marketing, Hyundai Motor India Ltd., while commenting on this issue, said, “The price increase has been necessitated by a variety of cost push factors like increase in raw material prices and freight increase. We have tried to minimize the hike so as to cause less inconvenience to our valued customers.”
The hike in price on all the Hyundai vehicles in India will be effective in a span of two weeks.