NEW DELHI, Oct 10:
Hyundai Motor India, the country’s second largest car manufacturer, today announced a proposed increase in the prices of all its models.
The price increase would serve to cover increased input costs.
Commenting on the price hike Mr Rakesh Srivastava, Vice President, National Sales and marketing, Hyundai Motor India Ltd., said, ‘The price increase has been necessitated by a variety of cost push factors like increase in raw material prices and freight increase. We have tried to minimize the hike so as to cause less inconvenience to our customers.’
The price increase will come into effect within a couple of weeks.
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the largest passenger car exporter and the second largest car manufacturer in India. (UNI)
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