One of the first car manufacturers to announce a hike in price for all its cars in the line-up is Hyundai. It has been clearly stated by the car manufacturer that the hike in price will vary from Rs.5000 to Rs.20000. This variation will depend on the portfolios and will be as a result of the depreciation in the value of Rupees as well as due to the extra cost incurred by the car manufacturer on inputs of superior quality.
Even though with respect to the international market, the automobile companies have been absorbing the impact of Rupee depreciation for a substantial period, it can now be seen that the decision of price hike due to input costs and inflation is inevitable.
Hyundai has not taken such a decision alone, it followed the decisions made by car manufacturers such as Mahindra, Mercedes Benz, Nissan, Renault, BMW and Audi. Hyundai Motor India produces a range of models including cars like i10, Santro, Sonata and Verna which have a price tag between Rs.2- 27lakhs.
