Being the country's largest passenger car exporter and second largest car manufacturer, it came as no surprise that Hyundai made the announcement that it will be increasing the prices across all its models in the month of January 2015.
This makes December a good month for those contemplating a Hyundai purchase to finally make a decision. As sales in December are lower owing to customers preferring a 2015 model, Hyundai is offering some benefits on its current models under its December Delight scheme. The discounts on the i20, though, are still very limited.
Rakesh Srivastava, senior vice president, sales and marketing said, "In these adverse market conditions, the price increase is necessitated on account of increase in input costs."
Hyundai blames the high cost of imports due to higher Rupee depreciation and high cost of sales for the price hike. The company also claims that it has been absorbing most of the costs but is now constrained to consider price increase across all models in the range of Rs 5,000 to Rs 25,000 which will be effective from January 2015.