The South Korean auto brand, Hyundai, made an announcement about price hike of its car models from 1st of February, 2013. The company will be increasing prices of all its models by up to Rs 20,000. The Japanese auto giant, Maruti Suzuki, also has added few more numbers to price tags of its cars since yesterday.
Speaking about the new pricing, Mr. Rakesh Srivastava, Vice President, Sales and Marketing, Hyundai Motors India Ltd. said, “On account of rise in input cost and fluctuation in currency, we will increase the prices up to Rs 20,000 by February 1, 2013 across all the models starting from Eon to Santa Fe SUV.”
The South Korean brand had previously hiked price of its cars in the month of November 2012. While many other auto makers saw a downward trend in sales during 2012, Hyundai registered an impressive growth of 4.7 percent in domestic market. Its export increased by up to 3 percent during the year. It introduced the Neo-Fluidic Elantra in 2012, which floored Indians with its fluidic sculpture.
Hyundai has plans to bring an MUV to Indian market, this year. Currently there are no models of the company in this segment. The Hexa Space concept which was displayed in 2012, Delhi Auto Expo may hit the market by mid or end of this year. The MUV is expected to be priced competitively at a range of Rs 9 lakh to Rs 14 lakh. After Fluidic Verna and Eon, the auto maker has built Hexa Space beautifully to call it a Hyundai.