Hyundai Motor India Limited (HTML), wholly owned subsidiary of Hyundai Motors Company, is all set to roll out its 800 cc small car by fiscal 2011-12.

HTML has decided this anticipating the demand for small cars that is expected to hit 2 million units in India by the time this car hits Indian roads.

Moreover, the company also said that its 800 cc cars will be both for Indian as well as exports markets.

But HTML cleared that it had no intentions to compete Tata's Nano as it doesn't have the capability to make a car worth Rs 1 lakh.

The company is planning to start the production of this new 800 cc variant soon.

Hyundai also announced that it would raise its car prices by Rs 5000 by the coming month.

The increase, second after the Central Budget, may be in the range of Rs4000-Rs5000 and the clients need not be anxious regarding the increase as they will not be wholly burdened this rise. (With Input from Agencies)