Hyundai Motor to hike prices by upto Rs 20,000 across models

Hyundai Motor India Ltd (HMIL) will increase prices of its cars across models with effect from August 16 on the back of rise in input costs.

The largest passenger car exporter and second largest car manufacturer in India will hike the prices in the range of Rs 3,000 to Rs 20,000 across models, cited the company in a press release on Friday.

The car maker will hike the prices of its vehicles from Eon to Santa Fe.

Commenting on the price hike, Hyundai Motors India senior vice president-sales and marketing Rakesh Srivastava said in a statement, "The rupee depreciation and increase in raw materials cost have impacted our overall costs. We have been absorbing most of the costs but now we are compelled to consider the price increase. We will be  increasing the prices from August 16, 2016 by Rs 3,000 to Rs 20,000 across models.”