Hyundai Motor India has joined the slew of manufacturers that have announced a price hike with effect from next year. While the company has not announced any specifications of the price hike, it reasoned the hike due to higher input costs in India. The country's largest carmaker Maruti Suzuki India said it will hike prices of its vehicles from January to offset rising input costs. Other car manufacturers such as Toyota, Mahindra and Mahindra and Mercedes-Benz said they are also contemplating a similar move.
Earlier, when Hyundai announced that it won't be hiking prices of its cars for the upcoming year, Honda Cars accompanied after its India Senior Vice-President and Director, Marketing and Sales, Rajesh Goel said, "We do not have a price increase plan from January. Going forward, as we sequentially introduce BS-VI versions of our products, the relevant BS-VI prices will be applicable and the ongoing offers available on BS-IV versions might not be extended to BS-VI versions.
Tata Motors said it will increase prices of its passenger vehicles from January, primarily in order to offset the impact of upgrading its portfolio to conform to BS-VI emission norms. The company currently sells products ranging from hatchback Tiago to SUV Harrier, priced between Rs 4.39 lakh and Rs 16.85 lakh (ex-showroom Delhi). "With BSVI products coming in, prices will increase from January," Tata Motors President (Passenger Vehicles Business Unit) Mayank Pareek told PTI in an interview here. He declined to quantify the increase in prices but said the hike next month would be on a higher side as compared to earlier price revisions taken by the company.