Hyundai Announces Price Increase Up to 2%
Hyundai Motor India Ltd. (HMIL), the country’s second largest car manufacturer and the number one car exporter since inception today announced a price increase up to 2%. The revised prices to be implemented from beginning of next year.
Commenting on the Price increase, Mr. Rakesh Srivastava, Director – Sales & Marketing, HMIL said,
We have been absorbing the increase in input and material costs but now are constrained to increase the prices up to 2%.
Hyundai Motor India Limited (HMIL) is a wholly owned subsidiary of Hyundai Motor Company (HMC). HMIL is the second largest car manufacturer and the number one car exporter since inception in India. It currently has nine car models across segments – EON, GRAND i10, ELITE i20, ACTIVE i20, XCENT, VERNA, ELANTRA, CRETA & TUCSON. HMIL’s fully integrated state-of-the-art manufacturing plant near Chennai boasts advanced production, quality and testing capabilities.
HMIL forms a critical part of HMC’s global export hub. It currently exports to around 87 countries across Africa, Middle East, Latin America, Australia and Asia Pacific. To support its growth and expansion plans, HMIL currently has 490 dealers and more than 1,300 service points across India. In its commitment to provide customers with cutting-edge global technology, Hyundai has a modern multi-million dollar R&D facility in Hyderabad. The R&D centre endeavours to be a center of excellence in automobile engineering.
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