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Hyundai Motor India said on Tuesday it will hike prices of its cars across all models between 2.3 per cent by January 2008 owing to rising input and freight costs.
"From the first week of January there will be a price hike across all the models. The increase could be between 2-3 per cent," a company official said.
He said the price increase will include even the latest hatchback i-10, which was launched with an introductory price starting from Rs 3,39,000.
The official said the price rise was due to the rising input costs and freight cost. HMIL's product range starts from the flagship Santro, the base model of which is priced at Rs 2,70,000, while its top end Sonata Embera is priced at Rs 15,71,000.
Rival Maruti Suzuki also plans to rise car prices by up to Rs 12,000 from January, while General Motors also plans up to 2 per cent hike.
Skoda India to hike car prices by Rs 20,000: Skoda Auto said on Tuesday it will raise prices across all models by Rs 20,000 from January next year.
The company said the hike was necessitated due to rising input costs.
"Input costs are negotiated on an annual target achievement basis with our vendors and the increase in prices is in line with our renegotiated terms with them. The company has made efforts to keep the price rise marginal on all models," a Skoda India official said in a statement.
Skoda sells premium hatchbacks Octavia, Laura and Superb in India priced in a range of Rs 11 lakh (Rs 1.1 million) to Rs 24 lakh (Rs 2.4 million). The company is expected to roll out a new premium hatchback Fabia in the country during the next month's auto expo.