Hyundai Motor India Limited (HMIL) will be hiking prices across all its cars in the country. This price hike will be implemented from the 1st of January, 2018 as per the company’s official statement. The Director, Sales & Marketing, Hyundai Motor India Limited, Rakesh Srivastava, has confirmed this hike and added that prices will increase by up to 2% across all models sold by the company in India.
He also attributed this hike in prices to rising input and material costs which Hyundai had been internally absorbing in the recent past. However, the current situation necessitates a hike in prices according to Srivastava. Many Indian companies have already announced their decision to hike prices including Mahindra & Mahindra, Ford, Toyota, Isuzu, Skoda and others.
The Hyundai Verna has recently been launched in the Indian market and the luxury sedan has been doing very well. The company has been sitting pretty on good sales volumes for the Verna in the domestic market while it will also be exporting a whopping 10, 501 units of the car to the Middle East market. This big order marks the beginning of exports for the India-made Verna. The Verna has already garnered more than 30,000 bookings in India.