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]