India's second largest automaker and the largest exporter of passenger cars, Hyundai Motors India has recently hinted that the auto major may announce another round of price hike in the Indian market following the BSIV implementation.

While the impact of expected to range between Rs. 4,000-5,000, the company believes that it will not pass on the entire burden on to the shoulders of the Indian consumer. This hike will be the second after the one announced following the 2% rollback of the excise duty in the Union Budget.

Moreover, the company is also planning the launch of Santa Fe which is expected to debut by October this year. The company expected the SUV model to be priced around the tag of Rs. 20 lakh.

The small car Hyundai i10 has been the most popular product in Hyundai's India portfolio but the company expects to launch a car below Santro that will be an 800cc model, which may turn its fortune in the Indian market.

Notably, the product will be launched by 2012 in competition to most-selling passenger car in the Indian market, Maruti Suzuki Alto.