The Telegraph
Since 1st March, 1999
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Santro to cost 3% more

Calcutta, Dec. 10: After raising the prices of its upper mid-size sedan Accent, Hyundai Motor India Limited (HMIL) is now set to hike the price of Santro, its most popular car.

While the Accent saw a Rs 16,000 hike in its price a few days ago, the Santro is likely to be dearer by 2 to 3 per cent. Hyundai India sources said the move is prompted by the increase in steel prices. The revised price is expected to come into effect from January.

“Input prices over the last few months have increased substantially and we are evaluating the current scenario. The costs are negotiated on an annual target achievement basis with our vendors and if at all we increase prices, it will be in line with our renegotiated terms with them. We will make a formal announcement in this regard,” a company spokesperson said.

Hyundai has sold 77,223 Santros so far in this calendar year; 7,305 Santros in November alone. Sales, however, are low in December and the company is expected to temporarily cease production at its Tamil Nadu unit for carrying out maintenance work.

The Santro is priced between Rs 3.5 lakh to Rs 4.2 lakh depending on the models and the variants. The company also plans to launch its sport-utility vehicle—Terracan—between January to March next year. The car is likely to carry a price tag of Rs 18-22 lakh.

Initially, the company will import the car as a CBU (completely built unit) and intends to assemble it in India later. “We are also looking at ways to manufacture some of its parts in India. Initially, the company is contemplating a sales of 15 Terracans per month,” sources said.

The Terracan comes loaded with features like four-wheel drive, a 2.9-litre CRDi engine, limited slip differential, auto-dimming rear-view mirror, power-operated sunroof, eight-CD changer. Its “gentle but firm” ride is made possible by a double wishbone front suspension with a five-link rear axle set-up. Its rivals include the Mitsubishi Pajero among others.

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