Earlier this Monday, Honda Cars India, Indian wing of the Japanese auto maker has announced a price hike of 0.2% to 2.6% on its volume models like Brio, Jazz and City. The hike will be implemented on the current price of the cars and will be effective from 1st October, 2012. Below is a list to give you an idea of the expected price hike:
- Brio’s price will go up by just Rs. 1,000
- Jazz’s price will go up by Rs. 15,000
- City’s price will go up by Rs. 1,000 to 6,000, depending on the variant.
- Price of every other model remains unchanged.
Honda explains that the prices have been revised to cope up with the rising input costs, increase in freight as a result of the recent Diesel price hike.
India’s largest car maker Maruti Suzuki has also announced that it will soon join the price hike bandwagon. The company said that it will hike prices of its cars by within a week. Maruti has stated the same reason behind the price hike. They said, in order to offset impact of adverse foreign exchange fluctuation and rising input costs, the prices of the cars need to be revised.
Mr. Mayank Pareek, CEO, Marketing and Sales, Maruti Suzuki, told PTI: “There is a lot of pressure on our margins due to the foreign exchange fluctuation and rising input costs. We will be increasing product prices within a week but the details are being worked out”. So, expect Maruti cars to be dearer sooner!
Hyundai is also in the race to increase its car prices starting next month.
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Source: Economic Times