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Showing posts with label Increase. Show all posts
Showing posts with label Increase. Show all posts
Friday, June 24, 2011, AutomotiveWorld.com
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29 December, 2010 Indian vehicle manufacturer Mahindra & Mahindra has said it will raise the prices of its vehicles across all segments in January due to increase in commodity rates.
“There will definitely be a price increase in January and we are finalising it at present... It will be across all categories,” M&M senior vice-president (Sales and Customer Care, Automotive Sector) Arun Malhotra said in New Delhi.
He, however, did not comment on how much could be the price increase on the company’s models. The prices of raw materials, especially rubber and steel, have gone up extensively in recent times, he added. Mahindra today showcased its latest utility vehicle ’Thar“ in the National Capital, which is available for Rs 5.99 lakh (ex-showroom, Delhi).
The company will launch a new pick-up truck above 1.2-tonnage carriage capacity within the first six months of the next year.
Major car makers such as Tata Motors, Hyundai Motor India and General Motors have announced their plans to increase prices of its passenger vehicle models from January. Volkswagen had said it would increase the prices of its small car Polo by over 2.9 per cent with effect from January 1, 2011.
06 December, 2010 General Motors India has said that it will increase its car prices by up to two-and-half per cent across models due to increasing input costs.
“We will be increasing the prices of our models between 1.5 and 2.5 per cent from January first week next year to offset rising input costs. The increasing input cost is our biggest concern. After the commodity prices reached its bottom, now all materials like steel, aluminium and rubber are rising and Some component prices have increased between 5 and 10 per cent.” General Motors India (GMI) Vice-President P Balendran said.
GM’s last price hike came in June-July this year. GM recently crossed the one-lakh sales mark in a calendar year for the first time since its inception in the country.
The company plans to enhance its dealership network to 300 from current 219 by March 2011.
“We will open more dealers in the Tier-II and Tier III cities coming days. We will increase our dealership network to 240 from present 219 by this month-end," he said adding "the dealership network will increase to 300 by March 11.”
General Motors plans to launch six new vehicles in the Indian market including, van, hatchback, small car and SUV.
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08 December, 2010 Increasing input costs have forced carmakers to increase prices from January 1, which will enhance the sales in December. Hyundai and General Motors have already announced price hikes. And others such, Mahindra & Mahindra, Toyota Kirloskar Motors, and Ford are all set to follow suit.
“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 will increase its car prices by 3%. While natural rubber prices have doubled in recent months, copper prices have soared by nearly 15% in the past few months.
“We have been absorbing rising input costs by enhancing our operational efficiencies. But now we have to pass them on to consumers,” said Mayank Pareek, executive officer (marketing & sales), Maruti.
Tata Motors is also likely to increase the prices in the range of 2-3 % for its passenger vehicles. However, the company does not intend to increase the price of its new launches Nano and Aria, 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.
The sharp appreciation in the value of the Japanese yen against the US dollar has forced Japanese carmakers like Toyota and Honda to revise their car prices in the Indian market.
06 December, 2010 General Motors India has said that it will increase its car prices by up to two-and-half per cent across models due to increasing input costs.
“We will be increasing the prices of our models between 1.5 and 2.5 per cent from January first week next year to offset rising input costs. The increasing input cost is our biggest concern. After the commodity prices reached its bottom, now all materials like steel, aluminium and rubber are rising and Some component prices have increased between 5 and 10 per cent.” General Motors India (GMI) Vice-President P Balendran said.
GM’s last price hike came in June-July this year. GM recently crossed the one-lakh sales mark in a calendar year for the first time since its inception in the country.
The company plans to enhance its dealership network to 300 from current 219 by March 2011.
“We will open more dealers in the Tier-II and Tier III cities coming days. We will increase our dealership network to 240 from present 219 by this month-end," he said adding "the dealership network will increase to 300 by March 11.”
General Motors plans to launch six new vehicles in the Indian market including, van, hatchback, small car and SUV.
Shahzad Sheikh
08 December 2010
Al Wallan, the Saudi dealer for Hyundai has revealed that more than 100,000 Hyundai’s will be sold in Saudi Arabia this year – representing a 40% increase in sales. Helping sales will be the launch of the Hyundai Accent during the Riyadh Motor Show (5-9 December) at the Riyadh International Convention and Exhibition Centre.
Mushary Al Wallan, President, Al Wallan Trading Co., said: ‘Unveiling of the all new Hyundai Accent at the Riyadh Motor Show is part of the company’s transparency policy with its customers to meet their requirements and desire and introduce the new model, that also draws momentum from the success of other top-selling models, which have likewise contributed immensely to Hyundai's increasing market share and the significant growth of Al Wallan's presence in the Saudi market.
‘The new Hyundai Accent offers an attractive makeover with exterior and interior designs that feature a totally new look and feel. We have developed the new Accent to serve as a reward to our customers for their loyalty and continued trust in the Hyundai brand.’
Hyundai has achieved a 21% growth in global sales. Sonata sales have registered a 103% year-on-year increase in the Middle East since the beginning of the year.
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29 November, 2010 Volkswagen Group, which sells luxury cars under the Audi, Volkswagen and Skoda brand names in the Indian market, is planning to double its sales this year, a company official said. He also mentioned that India, besides China, is among the fastest growing market in the luxury car segment.
“Last year we sold 19,000 units comprising the three makes. This year we expect to double the sales,” Maik Stephan, managing director of Volkswagen Group Sales India , said.
Volkswagen has an installed capacity of 1.10 lakh units per annum at its Pune and Aurangabad manufacturing plants, and does not have any investment plans at the moment, he said. VW has invested Rs 3,800 crore at Pune, which manufactures Skoda Fabia, Polo and Vento. The Aurangabad plant assembles Skoda, Volkswagen and Audi.
Stephan said that the group would aggressively expand the dealer network in the country.
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