Hyundai Motors, the second-largest carmaker in India, plans to hike the price of all its models. The increase will range from Rs3,000 to Rs80,000 depending on the model.
The hike follows the imposition of additional infrastructure cess on all cars by finance minister Arun Jaitley in his budget speech on Monday. All petrol, LPG and CNG cars, with a length not exceeding four metres and engine capacity of 1,200 cc or less, will be taxed an additional one per cent.
Diesel cars with an engine capacity of less than 1500 cc will bear an additional tax of 2.5 per cent, while all other vehicles with higher engine capacity and SJUVs will be costlier by four per cent.
Hyundai’s entry-level Eon will be dearer by Rs3,000, whereas its top-end model, the SUV Santa Fe, will be costlier by Rs80,000. Its popular compact SUV, the Creta will now be more expensive, ranging from Rs26,000 to Rs65,000, depending on the variant.
Tata Motors had also announced a price hike across various models.
Hyundai saw domestic sales of 40,716 units in February. “Our domestic sales grew by 9.1% on the strength of strong performance of the three ‘Indian Car Of The Year’ brands Creta, Elite i20 and Grand in spite of logistic challenges for transportation of vehicles to north India and loss of many business days of dealership operations across Haryana,” said Rakesh Srivastava, senior vice-president, sales and marketing, Hyundai Motor India Ltd.