Hyundai hikes prices, others to follow

Maruti, GM to follow suit next month.

Hyundai Motor yesterday raised the prices of its Santro and Accent GLE cars by R 8,000 and Rs 6,000, respectively, even as Maruti Udyog, General Motors and SkodaAuto said they would raise prices next month citing rising costs of inputs, especially steel, and investments made in upgrading their vehicles to Euro III emission norms.

Indicating that the price hike would be across all its models, Maruti Udyog Managing Director Jagdish Khattar said, "We are in the process of working out the quantum of price rise, which will be announced next month." In the last several months, the company had been dropping prices of its various models.

"Input costs have risen sharply. We are actively considering raising prices early next year," said General Motors India Vice-President P Balendran. Added Imran Hassen, managing director, SkodaAuto India: "We are considering a move to increase prices because of the Euro III norms coming into effect next year."

A Tata Motors official too said there would be an upward revision of prices when the company launches its Euro III products.