JOIN USAutomobile manufacturers will raise prices from January 1 in view of rupee devaluation and increase in cost of raw materials.
India’s largest passenger car seller Maruti Suzuki had announced on December 10 that it will raise vehicle prices by up to Rs 20,000.
“It (price increase) will be effective from January 1, 2016, and will vary across models. It will be up to Rs 20,000,” a Maruti Suzuki spokesperson had said at that time.
A day earlier, on December 9, India’s second largest car seller Hyundai Motor India announced vehicle price escalation up to Rs 30,000 across all models from January onwards.
“In these challenging market conditions, we are constrained to consider the price increase on account of factors like increase in cost of components, weak rupee etc,” said Rakesh Srivastava, senior vice president for sales and marketing, Hyundai Motor India.
On December 14, Indian automobile manufacturer Tata Motors declared price hike for its entire passenger vehicle range by up to Rs 20,000 from January, attributing the cause to the impact of various macro-economic factors.
Not to be left behind, Toyota Kirloskar Motor said the price hike would be up to three percent on its vehicle range from January, while its rival Honda Cars India’s (HCIL) car prices will rise up to Rs 16,000.
Other car manufacturers which announced price hike to offset rising input costs include Nissan, Renault and Skoda. Nissan announced price rise by up to three percent on its entire vehicle range and subsidiary Datsun.
Renault announced a price hike of three per cent for its vehicles from January. Similarly, General Motors (GM) India has also announced price rise by up to two per cent on its vehicle range.
Czech automaker Skoda’s vehicles will rise in price by up to Rs 50,000 from January.