Following Maruti, Tata, Mercedes and other car companies, Hyundai India, Honda India and Mahindra on Friday announced price hikes across models to offset infrastructure cess announced in the Budget 2016-17.
Hyundai Motor India (HMIL) said that it has increased the price across all its models with effect from March 1, ranging from a minimum of Rs 2,889 to a maximum of Rs 82,906, on account of the new levies announced in the Union Budget.
Similarly, Honda India Cars Limited also increased the prices across models, ranging from a minimum of R4,000 to a maximum of Rs 79,000 effective March 1. Mahindra & Mahindra also hiked prices of all its models, ranging from Rs 5,500 to a maximum of Rs 47,000, effective April 1, to offset excise hike in budget-2016-17. This follows the recent price hike of market leader Maruti, which hiked prices by up to R34,494 to offset impact of infrastructure cess, Hyundai models such as Eon, i10, Grand, Xcent, Elite i20, Active, Verna carry price hike of Rs 2,889, Rs 3,848, Rs 4,286, Rs 4,726, Rs 4,886, Rs 5,857, Rs 5,677, respectively, the press statement said.
Models such as Creta, Elantra and SantaFe carry price hike of Rs 27,192, Rs 45,044 and Rs 82,906, respectively.
Commenting on the price hike, Rakesh Srivastava, senior vice-president (sales and marketing), Hyundai Motor India, said, “The new levies in union budget 2016 have led to price increase across the models ranging from Rs 2,889 to Rs 82,906. Today’s customers are discerning on net off value offerings. The change in price value equations could alter the overall demand, from with-in the segment to across the segments and fuel types.
“Honda Cars India said that its base model Brio carries a price hike of Rs 4,000 to Rs 6,000, Jazz with Rs 5,000 to Rs 19,500, City R24,600 to Rs 38,100, Mobilio Rs 21,800 to Rs 37,700 and CRV Rs 66,500 to Rs 79,000, the statement said.