REUTERS - Hyundai Motor Co's(005380.KS) India unit, the country's second biggest carmaker, said it raised vehicle prices by up to 20,878 rupees due to an increase in input costs and currency fluctuations.
Many companies in India, including No.1 carmaker Maruti Suzuki Ltd (MRTI.NS) and the local unit of General Motors Co(GM.N), have hiked prices in recent months despite a slowdown in car sales, as rising costs threaten margins.
Hyundai India had also raised vehicle prices in November.
(Reporting by Aradhana Aravindan; Editing by Anand Basu)
Trending On Reuters
The Reserve Bank of India kept its policy rate on hold at 7.25 percent on Tuesday, as widely expected, while leaving the door open to ease further depending on the inflation outlook and how swiftly banks lower their lending rates. Full Article | Full Coverage