Hyundai to hike price of its cars in India

Hyundai is planning to increase price of its cars in India from next month. According to Kumar Priyesh, regional sales manager, of Hyundai India, Hyundai will increase the prices in the first week of April. He added that the main reason behind the hike in prices is the country wide implementation of new emission norms, BS-IV. Because of these new emission norms the company has to upgrade its vehicles to make them compatible to the new emission norms.

Hyundai is the second largest car maker and largest car exporter in the country and its small car models including Hyundai Santro Xing, Hyundai i10 and Hyundai i20 are very popular in India. Interestingly, Hyundai India recently hiked the price of its models following the excise duty hike by the government of India. After this price hike Hyundai cars in India will become costly by at least Rs 5,000.

Besides this the company is also in the process of launching a new SUV in India, named as Hyundai Santa Fe. It is expected that the model will be launched in India by the month of October this year with the price tag of Rs 20 lakh. After its launch in India the Hyundai Santa Fe model will compete with popular models in this segment including Honda CR-V, Toyota Fortuner, Ford Endeavour, Chevrolet Captiva and Hyundai Tucson.