Wednesday, November 05, 2014
By Manoj Kumawat
Prices of Maruti Suzuki Ciaz and Hyundai Elite i20 to hike in coming days
It is reported that two major car manufacturing companies of country Maruti Suzuki and Hyundai Motors India Limited are going to hike the price of the existing portfolio which also includes their latest initiatives that Maruti Suzuki Ciaz and Hyundai Elite i20. Both these cars were launched in different segments where Ciaz was launched almost a month ago in sedan segment, Elite i20 was launched in hatchback segment about three months ago.
Commenting on the expected price hike senior V.P. of Hyundai Motors India Limited, Mr. Rakesh Srivastva said it is felt that as an impact of increasing in cost of raw material pressure of increasing cost of production is increasing in company and company has tried to avoid the decision of hiking prices of their cars. But now as it is not possible for company to continue with the existing cost of their products they have started discussing the matter and are soon to finalize the percentage of hike in price.
It would be interested to know alike MSIL and HMIL other car makers like BMW and HCIL are also speculating to hike the prices of their portfolio. The main reason behind this hike given by all makers is common that is increasing cost of production. However all these companies are also aware of the fact that price hike in current scenario will get their prospective customers away from them, and that also at the time when all of them are witnessing significant improvement in their sales as compared to last year.