Hyundai Motor India on Wednesday said it may increase the prices of its mid-size offering Accent and premium hatchback Getz next month even as it announced investments of up to $600 million for capacity expansion and new product launches.
"Prices of Accent and Getz will come up for review by the middle of next month," company president B V R Subbu told reporters in New Delhi, though refusing to specify by how much the price would go up.
Hyundai had last week increased the price of its flagship car Santro by as much as Rs 11,000 on account of increased input costs and rationalisation of dealer margins.
On new investments, he said these would be made over a period of two years.
The company today launched an all-new model of its premium sedan Sonata Embera. The 2.4-litre petrol engine car has been priced at Rs 13.69 lakh for manual transmission, while the automatic version will cost Rs 14.59 lakh. "We hope to sell about 150 units of the car monthly," Subbu said, adding that it will be assembled here after coming in through the semi-knocked down route.
Subbu said Hyundai would be launching new models in the Indian market in the coming years and these would not only be in the mid-size segment but also in the compact car category.
The company has already announced plans for an all-new Accent for the Indian market.
"In some cases, the new launches may complement the existing models, while in others they may come as a replacement," he said.