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Car prices set to climb
If you are looking to celebrate the New Year 2015 by buying a brand new car, hold your breath for a second and think twice. Most of the automakers in India are gearing up for a significant hike in prices from next month, citing rise in input costs and other overheads.
Hyderabad: If you are looking to celebrate the New Year 2015 by buying a brand new car, hold your breath for a second and think twice. Most of the automakers in India are gearing up for a significant hike in prices from next month, citing rise in input costs and other overheads.
- Cos announce price hike of 1 to 5 per cent from January
- Cite steep increase in input costs, overheads
Maruti Suzuki, Hyundai, Mahindra, Tata Motors, General Motors (GM), Nissan and BMW, which cumulatively control majority of the automotive market in the country, have already announced price hike plans while others are likely to follow suit soon. The huge jump in November sales seems to have emboldened them to go the price revision.
Country’s largest carmaker Maruti proposed a hike ranging from two to four per cent two days ago. This move will send prices of its entire range by several thousands of rupees, hitting common people hard. The company said though input costs spiralled, it had to delay the hike due to weak demand.
By:P Madhusudhan Reddy
