Hyundai Motor India Ltd. (HMIL) has announced the price increase across all its models with effect from March 01, 2016 on account of the new levies announced in the Union budget. There is a hike in price for all the products starting from the Hyundai Eon to the Santa Fe.
Hyundai hikes its car prices
Commenting on the price hike, Mr. Rakesh Srivastava, Sr. Vice President, Sales and Marketing said, “The new levies in Union Budget 2016 have led to price increase across the models ranging from Rs 2,889 to Rs. 82,906. Today’s customers are discerning on net off value offerings. The change in price value equations could alter the overall demand, from with-in the segment to across the segments and fuel types.”
The Eon has seen an increase of Rs 2889, while XCent and Elite i20 go up in price by 4,700 and 4,800 respectively. The highest increase in price has been for the Santa Fe at Rs 87,000. This increase is due to the infrastructure cess that has been applied on all new cars.
