Cars to cost more from Jan

Cars will become costlier from January with major manufacturers such as Maruti Suzuki and Hyundai stating that they will hike prices from next month.

“Maruti Suzuki will increase prices from January, 2014, as input costs have been going up, and we cannot continue to absorb all of it. We will pass on some part of it to the customers,” Maruti Suzuki India COO (Marketing and Sales) Mayank Pareek said.

Hyundai Motor India also said it is looking to take a similar step from next month to offset rising input costs.

Earlier in the day, German luxury car maker Mercedes Benz also announced that it would hike prices of its products across models by up to 10 per cent in India from next month.

BMW and Audi have also said they would hike prices from January onwards owing to pressure on their business due to economic factors.

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