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Hyundai Motor India (HMIL), the country’s second largest car manufacturer announced the price increase of up to Rs 20,000 across its models.
While the company's smallest car Eon will be hiked by Rs 3,000, its biggest vehicle Santa Fe will be costlier by Rs 20,000, the company said.
“The rupee depreciation and increase in raw materials cost have impacted our overall costs. We have been absorbing most of the costs but now we are compelled to consider the price increase," Rakesh Srivastava, Senior Vice President, Sales and Marketing, HMIL, said.
The company follows Maruti Suzuki's announcement on August 1 , which had also announced price hike up to Rs 20,000 across its models including the latest launches -- Vitara Brezza and Baleno.
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