Hyundai to hike car prices by up to 2% in June

Hyundai Motor India said on Wednesday it would raise the prices of its products by up to 2 per cent from the first week of June.

"There has been an increase in the input costs and we have been absorbing it for a while. The situation now is such that we have to pass some parts of it to the consumers," Hyundai Motor India Ltd Senior Vice-President Marketing and Sales Arvind Saxena told PTI.

He said the company will hike the prices of its various models by up to 2 per cent.

The price increase will come into effect from the first week of June, he added.

Hyundai currently sells hatchback models Santro, i10, Getz along with sedans Accent, Verna, Sonata Embera in the country.

The company's move to hike prices follows rival Maruti Suzuki India, which hiked prices last week across various models between Rs 1,000 and Rs 18,000.