Hyundai takes hint from Maruti, ups prices

New Delhi, Mar 16: Talking cue from the domestic car leader Maruti, Hyundai Motors India today announced an increase of up to Rs 2,816 in the prices of all its models with immediate effect.

The price hike will be across all variants of cars on account of a one per cent increase in educational cess annouced in the Budget 2007-08, the second largest car manufacturer said.

Maruti Udyog Ltd had already hiked prices of all its models by up to Rs 1,017 across all cities.

General Motors, when contacted, denied plans for any such move.

Post-hike, the flagship brand of Hyundai -- Santro -- will be costlier by Rs 362-Rs 562, while the premium hatchback Getz will be dearer by Rs 753-Rs 923.

The prices of Verna have gone up from Rs 1,183-Rs 1,420; for Elantra the prices have been revised from Rs 1,367-Rs 1,876; for Sonata the prices have gone up from Rs 2,470-Rs 2,816 across different variants while the Accent will now be dearer by Rs 999.

Meanwhile, a spokesperson for Honda Siel said, ''We have no plans for a price hike as of now but the possibility cannot be ruled out.

Immediately after the Union Budget on February 28, Tata Motors, Ford and Hyundai had hinted at a hike in prices in a bid to pass on the burden of the one per cent additional education cess. Tata Motors had announced price hikes across its passenger vehicle models, ranging from Rs 500 and Rs 1,200. Ford India, on the other hand, said it was reviewing the impact on prices in light of the Budget.

''We will be considering an increase in the prices of the Fiesta and Ikon that have high local content. We would need to study the impact of customs duty reduction on the price of the Endeavour,'' a Ford India official said after the Budget.

UNI