Announcing a price increase for the second time in a week, Hyundai Nishat Motors Private Limited (HNMPL) has raised the prices of its cars. In the wake of a price hike of up to Rs. 750,000, Hyundai’s entry level car now costs almost Rs. 6.6 million, making it the most expensive in Hyundai’s lineup.
Hyundai has announced that effective March 17, the following prices will be applied to its cars:
| Models | Old Price (Rs.) | New Price (Rs.) | Increase (Rs.) |
| Tucson GLS Sport FWD | 8,030,000 | 8,230,000 | 200,000 |
| Tucson Ultimate AWD | 8,659,000 | 8,859,000 | 200,000 |
| Elantra GL 1.6 | 6,199,000 | 6,599,000 | 400,000 |
| Elantra GLS 2.0 | 6,730,000 | 7,130,000 | 400,000 |
| Sonata 2.0 | 9,679,000 | 10,329,000 | 650,000 |
| Sonata 2.5 | 10,530,000 | 11,280,000 | 750,000 |
Hyundai displayed its last price hike on March 13, after a 7% increase in General Sales Tax (GST) for crossovers and cars with engines that are larger than 1400CC. In its latest price hike, the company has not given any explanation as to why they are raising prices, from out of nowhere.
As a result of the price hikes, Hyundai is still holding its own in terms of new car sales despite the price hikes. According to figures released by Hyundai Nishat Motors Private Limited (HNMPL), the company sold 1,271 cars in February, an increase of 11% on a mom basis. There was no doubt that Tucson remained the company’s number one choice once again.
In spite of this, the latest price hike may have a drastic effect on things.
 has raised the prices of its cars. I){kind=link}