Cars to be more expensive from Jan as cos plan price hike
While Maruti Suzuki India (MSI) said it will increase prices of its products by up to Rs 20,000, Toyota Kirloskar Motor said it will also hike prices by 1-2 per cent across all models.
Other companies, Honda Cars India and Volkswagen India said they are also contemplating such a move, but finer details are still being worked out.
The companies said increasing pressure on their margins due to currency fluctuation necessitated the move.
"There will be a hike in the prices of our products. Quantum will vary depending on models, but it can be up to Rs 20,000," Maruti Suzuki India Chief Operating Officer (Marketing & Sales) Mayank Pareek said.
He said the price hike has been necessitated due to increasing pressure on the margins due to the currency fluctuation.
The company currently sells a variety of models from the M800 to imported Kizashi at a price range starting at Rs 2.09 lakh to Rs 17.52 lakh (ex-showroom Delhi).
Toyota Kirloskar Motor (TKM) also said it would increase prices across its models from January 1. The range will be 1-2 per cent across all models, a TKM spokesperson said.
TKM sells a range of vehicles from hatchback Etios Liva, with price starting at Rs 4.44 lakh to the imported sports utility vehicle Land Cruiser tagged at
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