Hyundai India announces price hike across its range - IAB Report

07/01/2015 - 07:27 | ,   | Paranjay Dutt

The hike varies between Rs 15,000 and Rs 1,27,000 depending on the model. 

Reversal of the excise duty benefits and rising input costs have led a couple of manufacturers announcing price hikes in the new year. Honda did so, and now, it's Hyundai making an announcement regarding the same. The Korean car maker says an increase in prices ranging from Rs 15,000 and going all the way up to Rs 1,27,000 is applicable from January 1, 2015.

Hyundai Elite i20 Petrol Review front quarter
Launched last year, the Elite i20 has proven to be a successful product for Hyundai, bagging the ICOTY award and commendable success in the market.

While the hike is inevitable, Hyundai managed to post its record sales in 2014. A total of 4.1 lakh units were sold while 43 lakh cars were serviced at authorized Hyundai service centres across the country. Newly launched number gainers included the Xcent compact sedan and the Elite i20 premium hatchback. The latter also managed to receive 60,000 bookings and the prestigious Indian Car of the Year (ICOTY) award.

Hyundai ix25 front quarters at 2014 Guangzhou Motor Show
Hyundai will launch the ix25 in 2015, hence entering the compact crossover segment.

Also read: India-bound Hyundai ix25 scores full five stars in Chinese NCAP

With plans to introduce products like the Elite i20 Cross and the ix25 crossover, both of which will be placed in their respective but hugely competitive segments, it remains to be seen how well the car maker does this year. Let's not forget that the roll back to higher excise duty is going to affect every manufacturer.

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