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Hyundai Announces Price Hike of up to Rs 9,200 Across Range from August 1

Hyundai Venue. (Image: Manav Sinha/ News18.com)

Hyundai Venue. (Image: Manav Sinha/ News18.com)

Hyundai announced that the price hike was in light of the new safety regulations in cars by the government.

Hyundai Motor India Ltd. has announced a price hike of up to Rs 9,200 on account of increase in input costs due to new enhanced safety regulations in cars by the government. The new prices will be effective from August 1, 2019 across all models. The company recently introduced its foray into the compact SUV segment with the Venue. Since its launch, the car has returned healthy sales for the company, trailing close to leading old-timers such as the Maruti Suzuki Vitara Brezza in the compact SUV space. For the month of June, however, Hyundai witnessed a 7 per cent decline along with almost all manufacturers. Its domestic sales were down to 42,007 units during June and were recorded soon after the launch of Venue and Santro.

Auto giant Maruti Suzuki, for the fourth consecutive month in June, recorded a drop of 15 per cent to 114,861 units compared to the same month last year. The company’s compact segment including models such as Wagon R, Swift, Baleno and Dzire took the major was hit with a 12 per cent dip while the bigger models such as Ertiga and Brezza witnessed a decline of 8 per cent. Similarly, Mahindra and Mahindra reported a 6 per cent fall in total sales to 42,547 units in June. The company had sold 45,155 units in the corresponding month last year. In the domestic market, sales were down 5 per cent to 39,471 units last month, compared with 41,689 units in June 2018. Exports dropped 11 per cent to 3,076 units, against 3,466 units in the year-ago month.

Toyota Kirloskar Motor (TKM) reported a 19 per cent decline in total vehicle sales to 11,365 units in June this year. In the domestic market, the company reported sales of 10,603 units last month, down 19 per cent, as compared to 13,088 units in June 2018, TKM said in a statement. During January-June 2019, the company reported sales of 68,652 units, down 10 per cent from 75,992 units in the same period last year.