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      Hyundai Models Become Expensive, Toyota to Follow

      Payal Pathak

      Payal Pathak

      Hyundai Motors India Limited has announced price hike on its models up to 1.2 percent. New prices of the cars will be effective from September 01, 2010. Hyundai attributed rising input costs as the reason for price hike. "There has been an increase in the input costs for car manufacturers. We have tried to absorb as much of the cost as we can, to cause as less inconvenience as possible to our valued customers," said Arvind Saxena, Director (Marketing & Sales) Hyundai Motor India Ltd. “For a model like i10, the price increase would be about Rs 5000,” he added.

      Hyundai Santro and i10 will become expensive by Rs. 3500 for the base models while Sonata will be dearer by Rs. 10,000. HMIL is a wholly-owned subsidiary of Hyundai Motor Company of South Korea. It presently markets 6 models of passenger cars across segments. The A2 segment includes the Santro, i10 and the i20, the A3 segment includes the Accent and the Verna Transform, the A5 segment includes the Sonata Transform.

      Hyundai i10

      Hyundai’s main competitor Maruti Suzuki has already increased its prices earlier this month. Toyota Motors is also planning to hike prices of its models from October 2010. “Input cost pressure is very high and the fluctuation in Yen is also affecting us. We will review the prices of our products in October," Toyota Kirloskar Motors deputy MD (marketing) Sandeep Singh said.

      Hyundai | i10 | Hyundai i10