Cars will become Costlier from January 2014
Cars will become costlier from January with major manufacturers
Maruti Suzuki and Hyundai stating that they will hike prices from next
month, joining the likes of Mercedes, BMW, Audi,Volkswagen and Honda.
"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
(MSI) COO (Marketing and Sales) Mayank Pareek said.
MSI sells a range of vehicles, from M800 to Grand Vitara, priced between Rs 2.13 lakh and to Rs 24.6 lakh (ex-showroom, Delhi).
The company had earlier announced that it would increase prices
of the entire range of models by up to Rs 10,000 from October first
week, mainly due to depreciation of the rupee.
Hyundai Motor India also said it is looking to take a similar step from next month to offset rising input costs.
We will be increasing the prices from January due to the rising
input costs and current market conditions," HMIL Senior Vice President
and Division head (Marketing & Sales) Rakesh Srivastava said.
The price hike will be across the entire product portfolio, he added.
Hyundai markets car models priced between Rs 2.89 lakh and Rs 26.69 lakh (ex-showroom Delhi).
Earlier, German luxury car maker Mercedes Benz also announced
that it will hike prices of its products across models by up to 10 per
cent in India from next month.
While the company did not specify the reason for the price
increase, its rivals BMW and Audi have already said they would hike
prices from January onwards owing to pressure on their business due to
economic factors.
Mercedes Benz sells a range of luxury cars and sports utility
vehicles in India, including compact cars A Class and B class, sedans C
Class, E Class and S Class and sports car SLS AMG, priced between Rs 22
lakh and Rs 3 crore.
