Hyundai to hike price on all the models starting September 2010

The ever growing inflation, continuously increasing price of the raw material has forced all the automakers to hike the price again. Following the footsteps of MSIL, which increased the price by 1.5% from August 1, Korean automaker HMIL is also increasing the price of all the models by up to 1.2 % quoting raising input cost as the main reason behind it. Arvind Saxena,director marketing, HMIL said

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.

While the price of its popular entry level small cars, Santro and i10, would raise by Rs 3,500 , Sonata would become costlier by Rs 10,000. This price hike will take effect from September 1. Manufacturers have been been struggling with rising commodity prices like steel and rubber.

This is not it, Japanese car maker, Toyota Kirloskar Motors, is also reviewing the price and there will be a hike in price of all Toyota cars in October. Toyota Kirloskar Motors deputy MD (marketing), Sandeep Singh, said:

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.

Though there is no clear picture of by how much the hike will be and no company official is ready to talk on this but watching the other manufacturers, we can expect a raise somewhere in between 1 – 2%.

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