India's second-biggest carmaker Hyundai Motor India Ltd on Wednesday raised prices of its two models while market leader Maruti and Czech car firm Skoda announced plans to follow suit next month to meet the rise in input costs and new emission norms.
Hyundai's 'Accent GLE' sedan would cost Rs 6,000 more while compact car 'Santro' would be expensive by Rs 8,000, its president B V R Subbu told PTI.
Jagdish Khattar, managing director of Maruti Udyog said, "We are in the process of working out the quantum of price rise, which will be announced next month. The price increase will be on most of the models."
Both Maruti and Skoda Auto India prices would be hiked due to rising input costs and the impending Euro III norm, which would come into force from 2005.
"We are considering a move to increase the prices due to the Euro III norms coming into effect next year. The price rise will also be impacted by the fact that there has been an increase in the input costs," Skoda Auto India managing director Imram Hassen said.
Subbu said: "We have increased prices on the two models. The price hike will come into force from tomorrow...we are in the process of informing our dealers. We have protected our customers who have booked cars till today."
