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Cars become costlier as major automobile firms hike prices
NEW DELHI, Jan 22 (PTI):
Published on 22 Jan. 2011 11:49 PM IST
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Cars have just got dearer with major automobile firms, including Maruti Suzuki India, Hyundai and General Motors, increasing prices this month in order to offset rising input costs.
Maruti Suzuki India (MSI), the country’s largest carmaker said it has increased prices by upto Rs.8,000 across models, except its newly launched compact car Alto K10.
“Yes, we did increase the prices from January 17, ranging between 0.5 per cent and 2.2 per cent,” Maruti Suzuki India managing executive officer (Marketing and Sales) Mayank Pareek said.
Except the new hatchback Alto-K10, the hike will translate into an increase of prices between Rs.1,000 and Rs.8,000 across different models made by the company.
Similarly, an official of rival Hyundai Motor India Ltd (HMIL) said it has hiked prices by 1.5 per cent from this month for its models, Santro, i10, i20 and sedan Verna.
General Motors India also said it has revised the prices upwards since the first week of this month ranging between 1 % and 1.5 %.
“This would translate to an increase of price ranging between Rs.2,500 and Rs.15,000 across all models,” General Motors India Vice-President P Balendran said.
Comments from Toyota Kirloskar Motors and Mahindra & Mahindra could not be obtained on whether they have hiked prices as well.
On the New Year day, Tata Motors hiked the prices of some its passenger vehicles and all of its commercial vehicles by up to Rs.30,000. While the company increased prices of passenger cars between Rs.3,000 and Rs.15,000, for the commercial vehicles the hike ranged between Rs.1,500 and Rs.30,000.
Almost all the automobile companies had in December said that they would raise prices in January. They had cited rising input costs as reasons for such a move.
“The price of natural rubber, which used to be Rs.100 per kg, has gone up to Rs.200 per kg. Copper price has increased by 12-15 % and steel has also seen a similar increase,” Pareek had said then.

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