Hyundai Motor India Limited (HMIL) has announced a 1.2 to 3 per cent hike in the prices of three of its models – the Santro, the i10 and the Accent. The Hyundai Santro will now be costlier by Rs.3,601 to Rs.5,163, the i10 by Rs.3,974 to Rs.7,637 and the Hyundai Accent by up to Rs.14,636. The prices of other Hyundai models remain unchanged. One of the major reasons for the price hike is an increase in input costs, which has made it unfeasible for car makers to continue with the price cuts introduced after the first stimulus package announced by the government in December 2008.
