Maruti and Hyundai Cars to Cost More
New Delhi: Maruti Suzuki India chief operating officer Mayank Pareek said that they are going to increase the prices of their cars due to the increase in manufacturer cost and other input cost. Most of the car companies decided to increase the prices of their cars from this January. Marui Suzuki said they are going to increase the rates up to Rs 20,000. As the input cost and petrol cost are increasing the other car companies such as Hyundai and GM also decided to increase the prices.
This will do by this Wednesday said by Manyank Pareek in a press meet. He also said the increase in prices rates are necessary due to continuous changes and unfavorable currency fluctuation. The company had already made an announcement in December 2012 that they are going to increase the prices of all models between 1% and 3%.
GM also said they are also going to increase the prices but not yet decided when it is going to be done. P Balendran VP at GM India said, GM also will hike the prices as soon as possible. The second largest vehicle maker Hyundai also decided to increase their prices up to Rs 20,000 as Marui Suzuki. This will also implemented by the end of January. Rakesh Srivastava, VP (sales and marketing), said “the promotion offers have been decreased in January. The prices were going to increase due to up and downs of currency and increase in input costs. We will increase he prices by February 1st of all models from Eon mini to Santa Fe SUV.”
Industry analysts said that this increase in price rates may make the customer sentiments dull. Even some of car companies had already increased their car prices such as Renault and Honda, and some other are ready to increase. Renault increased it price up to 1.5% starting from January 1st.
Sumit Sawhney, executive director (sales and marketing) at Renault India said, “We have adjust and to follow with the rest of industry due to increase in input cost and other raw materials. We tried to absorb increase as much as possible but now we are forced to pass some of the burden on customers as high input cost coupled high inflation are eating our bottom line.
