Hyundai to raise prices of cars by 2%

Hyundai Motor India is planning to raise prices of its cars by 2% from January 2009. Managing Director, Hyundai Motor India spoke to the media at the launch ceremony of its new hatchback model, Hyundai i20 that they are carefully studying the option and will go for a price adjustment in January 2009. He added that they will try to keep the hike minimum and it might be around as much as they took in June this year. He also said that the company will raise prices of all its cars due to the rise in the raw material prices, labour costs and other input costs.

Hyundai launched its premium five-door hatchback model, Hyundai i20, on Monday priced at Rs. 4.87 lakh-5.89 lakh. Hyundai rolled out three variants of this new car - Hyundai i20 Magna at Rs 4,79,900, Hyundai i20 Asta at Rs 5,59,900 and Hyundai i20 Asta (O) at Rs 5,81,900, as ex-showroom Delhi. Hyundai i20 will be manufactured at company’s Chennai based manufacturing plant. Hyundai expects to sell around 15,000 units in the domestic market and export nearly by 200,000 units to the overseas markets. Hyundai has already started exporting i20 to the European markets from November this year. Hyundai i20 has a 1.2-litre Kappa engine and will compete with Maruti Swift.