Hyundai has raised the MSRP prices of the Accent and Elantra sedans in the U.S. as the cost of steel and other raw materials escalated recently. Effective from July 1st, the Accent's price increased by $200 and $300 for the Elantra. The new MSRP prices of the Accent and Elantra are $10,775 and $13,625 respectively.The rise of steel and other raw materials prompted the minor boost in prices for the cars. Posco, South Korea's biggest steelmaker, has increased the price of sheet steel by 63% this year. The price of hot-roll coils used to make car parts and bodies increased three times to 850,000 Won ($796) per metric ton.
Last month, Hyundai reported a 70% increase in Accent sales and a 51% boost in Elantra sales.
[Source: Bloomberg]
