Hyundai Motor India on Wednesday said it will hike prices of its products by up to Rs 30,000 from next month to offset rising input costs and unfavourable foreign exchange fluctuation.
"In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc.
The proposed price increase up to Rs 30,000 will be effective from January 2016 across all models including Elite and Creta," Hyundai Motor India Senior Vice President (Sales and Marketing) Rakesh Srivastava said in a statement.
The company sells nine car models - Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Elantra and Santa Fe - across segments priced between Rs 3.10 lakh and Rs 30.41 lakh (ex-showroom Delhi).
Already various car makers including Toyota and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.