Car prices to increase from January 2018

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Maruti Suzuki announced that prices of its cars are set to increase in the range of Rs.4, 900 to Rs.22,000. Corporation officials have specified that the move is aimed at offsetting the rising input costs of products. December 14, 2017: Mahindra & Mahindra announced that it intends on increasing prices of its passenger and commercial vehicles by up to 3 per cent. “We have been holding back on price hikes and absorbing the higher input costs for a while, but with the increase in commodity prices we will have to take a price increase,” said Rajan Wadhera, president – Automotive Sector, Mahindra & Mahindra Ltd. Volkswagen too announced a price hike across its product range by up to Rs.20, 000. The new prices will be effective starting January 1, 2018, the company said.

Tata Motors announced that it would hike prices of its entire range of vehicles by Rs.25, 000. Mayan Pareek, president of Tata Motors’ passenger vehicle business, said, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are sanguine on maintaining our development trajectory in the coming years on the back of our robust product portfolio.” This means that the introductory prices of the Nexon will come to an end on December 31, 2017.

It’s almost the end of the year and so, carmakers have already started announcing price hikes across their product portfolio for 2018. So far, three Japanese carmakers have announced price hikes on its popular models. Honda Cars India said it will increase prices of its models by up to Rs.25, 000 from January 1, 2018, to offset the rise in input costs. Honda Cars India sells models ranging from the Brio hatchback (Rs.4.66 lakh ex-showroom Delhi) to the Accord Hybrid (Rs.43.21 lakh ex-showroom).

Earlier in December, Isuzu announced that it would be increasing the prices of its offerings in India by up to Rs.1 lakh. The D-Max V-Cross pickup truck, which is presently valued at Rs.13.31 lakh, will be about Rs.15, 000 dearer starting from January. Isuzu’s flagship SUV, the mu-X, which costs Rs.25.8 lakh (ex-showroom), will attract a price hike of up to Rs.1 lakh.

Toyota Kirloskar Motor, on the other hand, is set to hike prices by up to 3 per cent. The company said that it reviewed the input and freight costs before considering the price hike. “There has been an increase in the cost of manufacturing of vehicles. Frequent fluctuation in the international commodity prices and foreign exchange rates have sustained to impact our input costs all this while, protecting the customers from price increase. However, due to the continued pressure of high costs, Toyota is considering a price increase of up to 3 per cent across models with effect from January 2018,” the manufacturer said in a statement.

However, if you are looking to buy a Toyota, now would be the right time as the manufacturer’s Remember December Campaign is underway. Customers can avail attractive schemes like 100 per cent on-road financing, interest rates at 4.99 per cent, and benefits ranging from Rs.40, 000 to Rs.90, 000 varying from model to model. This offer is valid on all car purchases till December 31, 2017. In November Skoda Auto India said that it will hike prices of its vehicles such as the Rapid and the Octavia by 2-3 per cent from January 1, 2018. With car prices set to increase in the coming days, make sure to go out and get the car of your dreams within December itself as many carmakers are offering interesting discounts on various models right now.