New Delhi, Sept. 26
AUTOMOBILE majors Hyundai Motor India and Maruti Udyog said on Monday that they would be increasing prices of their vehicles later this week.
Hyundai would be increasing the prices of its mid-size sedan Accent and the premium hatchback Getz this week. "We will announce a price hike for the Accent and Getz before October 1,'' the Hyundai Motor India President, Mr B.V. R. Subbu, said. He said that the price hike should have happened last week but was held back due to certain reasons. The price of the Accent is likely to increase by about Rs 7,000 to Rs 8,000, while the hike in Getz prices would be marginal.
Maruti also indicated that it is considering a price hike in the current week. "The quantum of increase and the models for which the price would be increased has not been decided," a company official said.
According to the official, the main reason for the hike would be increased freight rate on account of the recent hike in diesel prices. The company had to pass on some of it to the customers, the official said.