Hyundai Motor India has announced a hike of 1.5-2 percent to be implemented in January 2012. The decision by the country’s second largest automobile manufacturer is in sync with several other car manufacturers in the country who will be raising the prices of their car models in the light of the high inflation and the losses incurred in component supply owing to the weakening of the Indian rupee.
According to Mr. Arvind Saxena Hyundai Motor India Director Marketing and Sales, the increase will be different across all the models and the company is currently working on the process. He added that given the level of inflation, higher fuel costs and high interest rates, the company is compelled to share the burden with the consumers.
Hyundai Motor India has witnessed a 28.15 percent increase in the total sales of November 2011 in comparison to sales in November 2010, selling 57,080 units in the month.