The company pointed out that the depreciation in rupee’s value and increase in input cost mandated the move.
“The rupee depreciation and increase in raw materials cost have impacted our overall costs,” said Rakesh Srivastava, Senior Vice President, Sales and Marketing, HMIL.
According to Srivastava, the prices will be increased from Rs 3,000 to Rs 20,000 across models.
“We have been absorbing most of the costs but now we are compelled to consider the price increase. We will be increasing the prices from August 16, 2016 by Rs.3,000 to Rs.20,000 across models,” Srivastava added.
Currently the company offers ten car models across segments — Eon, i10, Grand i10, Elite i20, Active i20, Xcent, Verna, Creta, Elantra and Santa Fe.