The second largest vehicle manufacturer of the country, Hyundai Motor India, on Tuesday announced that it will increase prices of its entire product range from January 2020, to primarily offset impact of rising input costs. The company, however, did not share details of model wise price change.
“The extent of price increase may vary for different models and fuel types,” Hyundai Motor India Ltd (HMIL) said in a statement.
The increase has been necessitated on account of rise in input and material costs, it added.
The company is working out on details and would share the details of the model wise price hike later this month.
Hyundai is the third vehicle maker after Maruti Suzuki and Tata Motors, to announce a hike in the price of its products from next month.
On Monday, two-wheeler manufacturer Hero MotoCorp said it is going to increase prices of its offerings, up to ₹2000, from January.
Motor vehicle manufacturers announce an increase in prices of their respective products in December to attract customers and to reduce stocks with dealers at the end of the year.
(With input from agencies)