Hyundai hikes prices of all cars by up to Rs. 20,000

Hyundai has announced a price hike ranging from Rs. 3,000 to Rs. 20,000, across its model range. The increased prices will be applicable from August 16, 2016.

Hyundai has cited depreciating rupee-dollar valuation and increasing raw material cost as the reason behind the price hike. The model-wise price hike list hasn’t been revealed yet. Earlier reports had suggested that prices of the Creta will be increased by up to Rs. 15,000. Hyundai makes a scheduled price revision in Q3 every year to accommodate the change in manufacturing costs.

Hyundai's Indian portfolio currently begins with the entry-level Eon hatchback, which starts at Rs. 3.25 lakh, and goes up to the top-end Santa Fe SUV that costs Rs. 31.75 lakh.

Recently, Maruti Suzuki had also increased prices of all the cars in its portfolio citing similar reasons.

Source: ET Auto