The untimely termination of excise duty benefits by the government has made manufacturers to start raising their prices. Hyundai, the country’s second largest car manufacturer in terms of sales, has announced its new updated prices. Prices have been increased across all models starting from the tiny hatchback Eon to the mighty SUV Santa Fe in the range of Rs 15,000 to Rs 1.27 lakhs, effective immediately.
The new detailed prices are as under (all prices ex-showroom, Delhi):
- Hyundai Eon: Rs 3,01,650 to Rs 4,21,245
- Hyundai Santro: Rs 3,08,995 to Rs 4,18,571
- Hyundai i10: Rs 4,17,228 to Rs 5,01,592
- Hyundai Grand i10: Rs 4,62,409 to Rs 6,70,120
- Hyundai Xcent: Rs 4,95,789 to Rs 7,77,130
- Hyundai Elite i20: Rs 5,22,729 to Rs 7,98,708
- Hyundai Verna: Rs 7,63,437 to Rs 12,01,194
- Hyundai Elantra: Rs 13,23,728 to Rs 16,63,996
- Hyundai Sonata: Rs 19,20,234 to Rs 21,28,572
- Hyundai Santa Fe: Rs 26,84,080 to Rs 29,79,082
The company is soon going to come up with several important facelifts which include the mid-size sedan Verna to fight the rising tide of its biggest rival Honda City. They also have a compact SUV called ix 25 lined up for launch to target the likes of the Duster and the Terrano. With this price rise and excise duty benefit cessation, pricing these new products and updates competitively will be increasingly difficult for the company.
Pricing is a key factor in a market like India and a rise at this point when the auto industry has just taken a few baby steps to come out of depression is surely a very unwise move by the government.