Hyundai India has also revealed their intention to increase their car model prices in the range of 1.5 % -2%. The price increase will be effective from the month of January next year. Hyundai India has done particularly well in the month of November with a decent growth of 28% from the corresponding period last year. The Korean car manufacturer had launched the Hyundai i10 LPG last month which has contributed to the substantial rise in its car sales. Hyundai EON and their flagship model Hyundai Santro sales have never been a letdown for the car manufacturer. Moreover, Hyundai’s dependency on the exports has helped the auto major to escape the slow car sales in the country.
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Hyundai is the country’s largest exporter and the second largest car manufacturer in India. Like other car manufacturers, it is quite imperative for Hyundai India to take the decision on increasing their car models price. The company is also suffering from the fluctuations in the rupee exchange value and higher input costs. The South Korean auto giant has quite smartly overcome the troubles in the recent times and shown some good sales in November. The entire car market slowdown on one side, Hyundai had to face some labour issues on the private front. The workers at Hyundai India had been constantly bugging the car manufacturer to call strike.
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This came after Hyundai management went against their own word and recognised their non-political United Union for Hyundai employees against the one backed by CITU. The consumers better get ready for the new prices on all the car models in the next year. It is the tendency in the car market where the consumers usually postpone their new car purchases to a new year. This is basically to increase their cars’ resale value which is largely dependant on the year of registration. But, this could turn out to be an advantage for the car manufacturers. On the other hand, the consumers will have to think twice before they defer their new car purchases to next year.
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