Thursday, December 08, 2011
By Pranjal Gera
Car prices in India to go up from January, 2012
The Indian rupee has seen a constant fall against the US dollar in the latest months, which has directly affected most of the manufacturing businesses including automobile sector.
A constant fall in the Rupee against US dollar, rising fuel cost and inflation has made it compulsory for all the leading auto giants like Hyundai, General motors, Kirloskar and Ford to hike their car prices upto 3 percent, the hiked prices are expected to take effect from January 1.
Hyundai India has reported to raise its vehicle prices in January next year by 1.5 to 2 percent; the hike will take place across all the existing models.
Mr. Arvind Saxena, company’s Director Marketing and Sales has reported that the rising fuel cost, inflation and fall in rupee has compelled Hyundai India to go for a price increase as such a situation has put up a strain on the company importing extensive number of components from overseas.
Ford India too said to have decided to swell prices of all its models across the entire range by 2 to 3 percent next month onwards. So as, other two giants including General Motors India and Toyota Kirloskar Motor, which are to increase their car prices by 1-2 percent and 1.5-3 percent respectively from January, 2012.
Other car producers, including Maruti Suzuki India and Tata motors too are chewing over to rise their car prices to balance the overall cost and margin, though they have yet not officially announced it.