Hyundai too raising car prices as input costs mount

HYUNDAI Motor India Ltd ( HMIL), the Indian arm of the Korean automobile maker, on Wednesday said it would raise the prices of its products by up to two per cent from the first week of June.



“There has been an increase in the input costs and we have been absorbing it for a while. The situation now is such that we have to pass some parts of it to the consumers,” Hyundai Motor India Ltd senior vice president marketing and sales Arvind Saxena said. He said the company will hike the prices of its various models by up to two per cent. “The price increase will come into effect from the first week of June,” he added.

Hyundai currently sells hatchback models Santro, i10, Getz along with sedans Accent, Verna, Sonata Embera in the country. The companys move to hike prices follows rival Maruti Suzuki India Ltd ( MSIL), which last week hiked prices across various models by between Rs 1,000 and Rs 18,000.

Maruti had hiked the prices of all its petrol variants — the hatchback Swift, sedan SX4 and the Gypsy — by Rs 9,000, while the price of the diesel version of Swift was raised by Rs 15,000. It had also increased the price of all variants of Zen Estilo and WagonR LPG by Rs 1,000 and of Alto and M800 by Rs 1,500.

Prices of all variants of Omni and WagonR Petrol were hiked by Rs 2,000 and that of multi- utility vehicle (MUV) Versa by Rs 8,000. Earlier, in January, Hyundai Motor India had raised the prices of all its models by between two to three per cent.

Maruti hikes prices of its models as input costs rise

INDIA'S largest car maker Maruti Suzuki India Ltd, on Monday raised prices of most of its models to offset the rising cost of inputs such as steel.

The price hike ranges from Rs 1,000 on the Zen Estilo and Wagon R hatchback to Rs 18,000 on its sedan Swift Dzire. The company had launched the Swift Dzire sedan with an introductory price ranging from Rs 4.49 lakh to Rs 6 lakh across different variants, which has now been withdrawn, a Maruti dealer said.

Maruti has also hiked the prices of all petrol variants of hatchback Swift, SX4 and Gypsy by Rs 9,000, while the price of the diesel version of Swift has been raised by Rs 15,000. It has also increased the price of all variants of Zen Estilo and WagonR LPG by Rs 1,000 and of Alto and M800 by Rs 1,500.

Prices of all variants of Omni and WagonR Petrol have also been hiked by Rs 2,000 and that of multi- utility vehicle Versa by Rs 8,000. The price increases, which spared the Grand Vitara SUV, came into effect at the weekend, he said.

Maruti's managing director, Shinzo Nakanishi, had said in April that the car maker was negotiating with steel companies on new contracts, for which it faced up to a 40 per cent price increase. Earlier, Maruti had cut prices of some of its models, after the government reduced excise duty on small cars.