New Delhi, Jul 17 (PTI) Hyundai Motor India (HMIL) today said it will increase the price of its hatchback Grand i10 by up to 3 per cent from August.Also Read - Live India vs England Score And Updates 1st Test, Day 1: Hosts Continue to Struggle as Thakur Strikes Twice
The company, which has not changed prices of its other models, said the price hike is due to increase in input and material costs. Also Read - Mumbai Rains: Death Toll Rises to 31 in Landslide, House-collapse Incidents; NDRF Ends Search & Rescue Ops
“The revised prices will be implemented from August 2018,” HMIL said in a statement. Also Read - Banned 20 Lakh Indian Accounts From May 15 to June 15: WhatsApp in Its Compliance Report to Centre
Currently, the Grand i10 is priced between Rs 4.74 lakh and Rs 7.51 lakh (ex-showroom Delhi).
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.
Earlier this year, HMIL Managing Director and CEO Y K Koo told PTI that the model would be launched near Diwali this year.
“So we will take a final call on the Santro badge at around that time. However, we are under a lot of pressure from dealers, customers and market to bring back the Santro brand,” he had said.
The company sells a range of cars starting from entry level small car Eon to premium SUV Tucson, with prices ranging from Rs 3.33 lakh and Rs 25.74 lakh.
This is published unedited from the PTI feed.