Hyundai Motor's India unit raises vehicle prices

Fri Feb 1, 2013 4:31pm IST

Workers assemble cars inside the Hyundai Motor India Ltd. plant at Kancheepuram district in Tamil Nadu October 4, 2012. REUTERS/Babu/Files

Workers assemble cars inside the Hyundai Motor India Ltd. plant at Kancheepuram district in Tamil Nadu October 4, 2012.

Credit: Reuters/Babu/Files

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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)

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