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Hyundai Motor India on Tuesday increased vehicle prices by up to Rs 127,000 to partially offset the impact of high input costs and expiry of reduced excise duty concessions.
“In these adverse market conditions, the price increase is necessitated on account of the higher excise duty and increased input cost," Hyundai Motor India Ltd (HMIL) sr vice president, (sales and marketing), Rakesh Srivastava said in a statement.
The company has increased the prices across all models starting from Eon to Santa Fe in the range of Rs 15,000 to Rs 127,000 effective from January 1, 2015, he added.
Meanwhile, homegrown auto major Tata Motors said it would also be increasing prices of its products.
"We will pass on the increase in excise, and there would be a related price impact to the extent of the excise increase," a company spokesperson said.
GM India has also increased prices of its vehicles by up to Rs 61,000 across various models. On Monday, Honda Cars India announced a price hike of upto Rs 60,000 across its product range.
The price hike follows the government not extending excise duty concessions given to the auto industry after the expiry on December 31, 2014.
Hyundai hikes prices of all cars| Car | Old price (Ex-showroom Delhi) |
Hike | New Price (Ex-showroom Delhi) |
|
 |
Eon | Between Rs 288,000 and Rs 403,000 | Rs 15,417 | Between Rs 303,417 and Rs 418,417 |
 |
i10 | Between Rs 399,000 and Rs 477,000 | Rs 21,501 | Between Rs 420,501 and Rs 498,501 |
 |
Grand i10 | Between Rs 441,000 and Rs 643,000 | Rs 22,508 | Between Rs 463,508 and Rs 665,508 |
 |
Xcent | Between Rs 473,000 and Rs 747,000 | Rs 25,597 | Between Rs 498,597 and Rs 772,597 |
 |
Elite i20 | Between Rs 499,000 and Rs 766,000 | Rs 29,814 | Between Rs 528,814 and Rs 795,814 |
 |
Verna | Between Rs 739,000 and Rs 11.72 lakh | Rs 23,965 | Between Rs 762,965 and Rs 11.96 lakh |
 |
Elantra | Between Rs 12.92 and Rs 16.24 lakh |
Rs 36,912 | Between Rs 13.29 lakh and Rs 16.61 lakh |
 |
Petrol Sonata | Between Rs 18.74 lakh and Rs 20.78 lakh | Rs 45,396 | Between Rs 19.19 lakh and Rs 21.23 lakh |
 |
Santa FE |
Between Rs 25.60 lakh and Rs 28.41 lakh | Rs 1.27 lakh | Between Rs 26.87 lakh and Rs 29.68 lakh |