More manufactures are announcing a price hike starting from January 2017. Hyundai Motor India Ltd has announced a price hike up to Rs 1,00,000 across all its models from Eon to Santa Fe, effective from January 2017. Increased manufacturing costs, fluctuating exchange rates and marketing expenses are the reason behind this hike, the company said in an official release.
Commenting on the price hike, Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “In these challenging year end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs. 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe.”
Toyota has announced a 3% hike across its range and Tata Motors has announced a hike of up to Rs 25,000 from Jan 2017.
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