Hyundai managing director S.S. Yang (left) and president B.V. R. Subbu at the launch of the Sonata Embera in New Delhi on Wednesday. Picture by Ramakant Kushwaha

New Delhi, Aug. 17: Hyundai Motor India Limited (HMIL) may raise prices of the Accent, its mid-sized car, and premium hatchback Getz next month.

?The prices of the Accent and the Getz will come up for review next month,? president B.V.R. Subbu said.

Last week, the Korean carmaker had raised the price of the Santro by Rs 11,000 to factor in higher input costs.

Hyundai today also launched the Sonata Embera ? a premium sedan which draws its name from a central American warrior tribe. The 2.4-litre petrol engine car has been priced at Rs 13.69 lakh for manual transmission, while the automatic version will cost Rs 14.59 lakh.

The new model will sport six colours ? noble white, ebony black, crystal silver, deep pearl blue, grace beige and charming grey.

According to automobile experts, the new Sonata is more spacious than Honda Accord, Toyota Camry, Nissan Altima and Chevrolet Malibu.

Company officials said the Embera has more leg and head space than the existing Sonata models. The company has set a monthly sales target of 150 units of the Embera. While the car will now be assembled here from semi-knocked down kits, it will later be put together from completely knocked down ones.

Regarding replacement options for existing customers, Subbu said, ?Our finance partners have been working on a replacement scheme. We will announce something in the next three weeks.?

Managing director S.S. Yang said the company would make fresh investments worth $600 million by 2007 to develop products and expand capacity.

The company will fund its projects primarily through internal accruals. It might also go in for some borrowings, said Subbu. Hyundai India will increase its capacity from 2,50,000 units to about 4,00,000 units by mid-2007.

While Hyundai does not plan another launch this year, Subbu said the company will introduce cars in the A2, A3 and A4 segments (mid-sized and compact cars) between August next year and May 2007.

?In some cases, the launches may complement the existing models, while in others they may come as a replacement,? he said.