Hyundai to raise prices; Maruti may follow track

New Delhi, June 16: Impacted by increasing input and freight costs, Hyundai Motor India today announced its decision to hike prices from June end on all models of its cars, while Maruti Udyog Ltd said a decision will be taken after its plants reopen after the maintenance on June 24.

He said the hike would be across the models, including the flagship brand Santro. However, he did not specify the quantum of hike.

HMIL Managing Director Heung Soo Lheem said the company could no longer absorbe the hike in production costs.''All that put together is too much to absorb and thus we will raise prices," he said.

Maruti spokesman said the country's largest car-maker ''is watching the situation before we decide to hike the prices.'' He said the company's manufacturing operations are closing for a week for the bi-annual maintenance shutdown from June 19 to June 24, 2006.

''A decision on hiking prices can be taken only after that'', he said.

UNI