Automobile major Hyundai Motor India (HMIL) on Tuesday said that it will hike the prices of its “GRAND i10” by up to 3 per cent due to increase in input and material costs.
According to the company, the revised prices will be implemented from August 2018.
Late last year, the GST Council announced the increase in cess and Hyundai Motors was one of the car manufacturers who reacted strongly to this decision, even going on to state that because of instability in policy making, future investments in India and product line-up will suffer. At the time, Hyundai hiked the prices of all its models- i20, Verna, Creta, Elantra and the Tucson except the Grand i10 and the Xcent. The price hike ranged from 2 to 5 per cent.
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 that the model would be launched near Diwali this year.
