Hyundai India, the country's second largest carmaker, today announced the price hike across all its models up to Rs 30,000. It was only October 2015, when the Korean carmaker had increased the prices of the Creta and i20 by up to Rs 25,000. The company says that it had to take this decision due to factors like increase in component cost, weak rupee, etc.
Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc,"
"The proposed price increase up to Rs. 30000 will be effective from January 2016 across all models including Elite and Creta.”, he added.
Besides Hyundai India, Toyota India too is planning to increase the prices of its cars by up to 3 per cent from January 1, 2015.