Hyundai Motor India ltd on Tuesday said it will hike prices by up to Rs 1 lakh across models from January to offset higher input costs, fluctuating exchange rates and marketing expenses. “In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses,” HMIl Senior Vice President, Sales and Marketing Rakesh Srivastava said in a statement.
“The proposed price increase will be up to Rs 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe,” he said. The company sells a range of passenger vehicles, from entry level small car Eon with a starting price of Rs 3.27 lakh to SUV Santa FE priced at Rs 31.98 lakh (ex-showroom Delhi).