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Cars are going to be expensive from next month. Manufactures are set to raise prices as increasing input costs, especially that of steel, has begun to impact their profitability.
Maruti Suzuki would hike prices of its cars “in next few weeks”.
General Motors India planned to increase its car prices by Rs. 3,000 to Rs. 15,000 soon.
Honda Siel Cars India Ltd, which mostly makes sedans in the premium segment, is expected to revise its prices next month.
Hyundai Motors India Ltd was guarded in its response and said it had not taken any decision yet.
The move to increase car prices comes at a time when the industry is witnessing a slowdown. Rising interest rates and lack of easy finance have added to woes of manufacturers.
The passenger car segment grew by 12.17 percent in 2007-08 with 15,47,985 cars being sold in the domestic market against 13,79,979 in the previous year.
Source: Hindustan Times
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Car Prices About To Rise…
Cars are going to be expensive from next month. Manufactures are set to raise prices as increasing input costs, especially that of steel, has begun to impact their profitability….
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Arun Pal Singh