New Delhi: Hyundai Motor India (HMIL) on Tuesday said it will increase prices of its vehicles across model range, except newly-launched SUV Creta, by up to 2% from June to offset rising input costs. Currently, HMIL sells a range of vehicles from entry-level small car Eon at a starting price of Rs3.3 lakh to premium SUV Tucson priced up to Rs25.44 lakh (ex-showroom Delhi).
Commenting on the price hike, HMIL director—Sales & Marketing Rakesh Srivastava said, “We have been absorbing the increase in input costs with increase in commodity prices, freight increase with hike in fuel prices and also the increase in custom duties of certain components.”
He further said, “We are now constrained to pass the same to customers in our products with increase up to 2 per cent from June 2018.”
The company, however, said the increased prices will not be applicable to the newly launched 2018 edition of SUV Creta. The vehicle was launched on Monday priced between Rs9.44 lakh and Rs15.03 lakh (ex-showroom Delhi).