Saturday, September 21, 2013
By Kamal Swami
Tata Motors, General Motors and Hyundai Motors announces hike in prices
Regular decline in value of rupee has resulted an increase in cost of production of all products as an impact of which customers are compelled to pay high price of every product purchased by them. Indian auto market is not an exception to this scenario and cost of production has increased in this sector also as the result of which manufacturers are finding it difficult to sale their vehicle at their existing prices. To cope the situation all major companies are revising their pricing strategy and hiking prices of their vehicles. In the same series major car manufacturing companies including, Hyundai Motors, General Motors and Tata Motors have also announced hike in prices of their vehicles from October during festive season. This means that customers who wish to buy their dream car during festive season will now have to pay high price to make their dream come true.
According to authentic sources of Tata Motors, company speculates to hike the prices of its all vehicles about 1 to 1.5 percent, depending upon the variant (petrol or diesel) purchased by the customer. Sources of Tata also revealed that this rise is due to increasing cost of raw materials and after minimizing cost of production to great extent company has decided to hike the prices of its vehicles.
On the other side country’s second largest car manufacturing company HMIL has also announced that it will hike the prices of its all models from Rs. 4,000 to Rs. 20,000 from October 1, 2013. With this company sources also revealed that this hike will not have any impact on the price of recently launched Hyundai Grand i10.
Following the same trend another leading car manufacturing company General Motors announced that it is speculating to revise the prices of remaining vehicles and plans to increase their prices up-to 1.5%. As it is known recently General Motors had increased the prices of three high selling models Beat, Sail and Enjoy around Rs. 10,000 in the start of this month. According to Mr. P. Balendran, Vice President, General Motors India Limited, company is going to hike the prices of its all models from 0.5 percent to 1.5 percent.
It would be interested to know that where all leading car manufacturing companies are announcing hike in the prices of their product, Maruti Suzuki India Limited has not made any announcement regarding hike in prices of its vehicles. According to sources of company MSIL is keeping watch on every condition and will take decision accordingly. Sources of company said that MSIL wants to facilitate its customers to enjoy festive celebrations to their full extent.