Car-makers to increase prices from January
January 1st, 2011 - 5:54 pm ICT by IANSNew Delhi, Jan 1 (IANS) Car buyers will have to shell out a bit more this year with major auto makers poised to increase the prices of their vehicles citing rise in input costs. Tata Motors, one of the largest sellers of commercial vehicles in the country, was the first to announce such a hike Saturday for all its commercial vehicles and some cars.
“Tata Motors will increase prices of some passenger vehicles and all of its commercial vehicles. The increase is effective from today (Saturday),” the company said in a statement.
The price hike will vary from one model to another. While Tata Indica and Tata Indigo family will see a price rise in the range of Rs.3,000 to Rs.15,000, the hike in utility vehicles such as Tata Sumo, Tata Grande MK II, Tata Safari and Tata Xenon will be in the range of Rs.8,700 to Rs.14,500.
The commercial vehicles will witness a price hike in the range of Rs.1,500 to Rs.30,000.
Recently other auto-makers such as Maruti Suzuki, Hyundai Motor India and General Motors also hinted at increasing the price of their vehicles.
The input costs include cost of materials like natural rubber, pig iron, rolled steel and metals such as aluminium and copper.
In the last six months, prices of natural rubber have risen by 40 percent while that of pig iron increased by 25 percent. Hot rolled steel prices are up 22 percent and prices of forging steel jumped by 10 percent.
Costs of aluminium and copper also witnessed increases by 4 and 3 percent, respectively.
- Tata Motors hikes prices of its vehicles - Oct 01, 2010
- GM India planning to sell two lakh cars annually - Jan 14, 2010
- Renault to increase prices of Koleos - Dec 14, 2011
- Excise, customs duties on large, foreign-made vehicles hiked - Mar 16, 2012
- Ashok Leyland increases vehicle prices - Jun 29, 2010
- Maruti Suzuki quarterly net profit drops 17.7 percent - Jan 29, 2011
- Auto makers log growth despite rising prices - May 02, 2011
- Auto industry to entice customers with new launches in 2011 - Jan 16, 2011
- CNG price raised by Rs.2.30 in national capital region - Sep 30, 2011
- Excise, customs duties on large, foreign-made vehicles hiked (Lead) - Mar 16, 2012
- Auto, realty sectors unhappy at interest rate hike (Lead) - Jul 26, 2011
- Hyundai to increase car prices from January - Dec 07, 2011
- CNG prices hiked in Delhi and neighbourhood - Mar 05, 2012
- Tata Motors to increase prices April 1 - Mar 18, 2011
- Indian automobile sales zoom 31 percent in 2010 (Lead) - Jan 11, 2011
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