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.
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.
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.