NEW DELHI: Korean carmaker Hyundai Motor India (HMIL) on Tuesday announced a price increase up to 3 per cent on its popular hatchback Grand i10 due to increase in input and material costs. The revised prices will be implemented from August 2018.
Currently, the Grand i10 is priced between Rs 4.74 lakh and Rs 7.51 lakh (ex-showroom Delhi) and is one of the popular cars in the small car segment. Hyundai, however, hasn't announced a price hike for other models yet.
The price hike on Grand i10 comes at a time when HMIL is gearing up to launch a new compact car around Diwali this year. The new model is widely understood to be the return of the Santro brand in India, although the company has insisted that it has not decided on the name.
Not only Hyundai, other carmakers are also increasing prices of the models on the back of rising input costs. Recently, Japanese carmaker Honda announced it will hike the prices of its models in the range of Rs 10,000 to Rs 35,000, effective August, 2018.