Hyundai India to hike prices by June end

Hyundai India to hike prices by June end

South Korean automobile maker Hyundai has said that the Indian division would hike the prices of all their car models in the Indian market by the end of the month.

The prices are being hiked due to higher input and freight costs. Hyundai India vice-president (marketing and sales) Arvind Saxena said in a statement on this decision: “We will increase the prices of cars from this month-end as there is a lot of pressure due to higher costs of prices of inputs like plastics and rubber as well as of logistics.”

However, he did not reveal the extent of this expected hike. The fuel prices recently went up massively and other factors too contribute to the increase in prices of the raw materials for the company. Hyundai added that they have been absorbing this hike in the production prices for quite sometime and it is time that a part of it is passed on to the end consumer.