Hyundai Motors India Limited is planning to hike prices of its models from April 2010. "Hyundai will increase the prices in the first week of April," says Hyundai Motor regional sales manager Kumar Priyesh. He quoted the main reason of price hike to be shift from BS III to BS IV standards which will make all models pricier at least by Rs. 5000. Hyundai had already hiked prices of its models after the Union Budget.
Hyundai is the second largest car manufacturer in the company and has a strong product portfolio in the country. It will launch its new SUV model Santa Fe by October this year. The new SUV will be priced around Rs. 20 lakh. It is also developing a new small car of 800cc capacity in Korea for the developing markets especially India.
Hyundai will also shift its manufacturing base of i20 from Chennai to Europe that will vacate some capacity from its plant.
