Car companies to hike prices from 1 – Jan – 2011 due to rising input cost. So if you are looking to purchase a car in December we would advice you to go ahead as in January 2011 you might have to shell out 2-3% more. Normally purchases are postpone till the new year by customers to get better resale value.
General Motors and Hyundai Motors have already announced hikes. Other car makers such as Maruti Suzuki India, Tata Motors, Mahindra & Mahindra, Toyota Kirloskar Motors, Ford India will announce price hikes shortly. The price hike campaign will see as high as Rs. 25000/-. Hyundai Motor India has increased prices to the wave length Rs. 4,000-25 ,000/- on its different models from January – 1 – 2011.
“We are forced to go for the increase in the range of 1.5-2 % as major inputs like steel, rubber and other metals have shown an upsurge in the past few months,” Hyundai Motor India spokesman said.
General Motors India on the other hand will increase prices by 3%. One of the main reasons for this hike is steep rise in commodity costs. Lets take the example of natural rubber its prices have doubled in recent months, copper prices have soared by nearly 15% in the past few months.
Mayank Pareek, executive officer (marketing & sales), Maruti Suzuki India
“We have been absorbing rising input costs by enhancing our operational efficiencies. But now we have to pass them on to consumers.”
Moving on to Tata Motors the company is said to have a price hike of 2-3 % for its passenger vehicles. However, Tata motors will not increase the price of its newly launched Tata Aria and Nano, two people familiar with the matter said.
“There is indeed an upward pressure on input costs. However, as on date, we cannot provide you with specific guidance on a price increase ,” said Tata Motors spokesperson.
Finally the Japanese giants such as Toyota and Honda are also having a price revision fight to steep input costs and foreign exchange fluctuation.
So if you have made up your mind and you have the money head out this December and gift yourself or beloved ones a new car ! The newyear will make you spend a little more than you expect ! Every penny counts – Stay Tuned.
Maruti Gearing Up To Hike PricesHyundai India Hike Prices Up To 2%Toyota Price Hike; Across Models In IndiaHyundai Claims Another Price Hike From September 1stMaruti Suzuki hike prices of its models in IndiaTags: General Motors India Price Hike 2011, Honda Siel Price Hike 2011, Hyundai Motors India Price Hike 2011, Mahindra Price Hike 2011, Maruti Suzuki Price Hike 2011, Tata Motors Price Hike 2011, Toyota Kirloskar Price Hike 2011
0 comments
Post a Comment