Hyundai Motors India is a name that is known to everyone in the automobile industry. The company became the first mobility solutions provider of the country.
Now, the company has come forward and made an announcement regarding price hikes. According to their official statement, the price hike will be effective from January 2020 for all models in the portfolio.
This decision has been taken by the company due to the rising cost of materials and inputs. However, the extent to which the price will increase will vary from model to model.
Prior to this, Maruti Suzuki issued a notice for increase in price as well. Usually car makers issue this notice at the beginning of the year to increase demand of existing inventory. It is expected that other brands will follow the similar path as Maruti Suzuki and Hyundai regarding price hikes.