New Delhi: Most automakers in India have announced price hikes in their products from January 2017. Challenging market conditions, increasing marketing conditions and fluctuating forex rates have been sighted as reasons for the price hike.
Automobile major Hyundai Motor India (HMIL) on Tuesday announced a proposed price increase across all its models up to Rs 1,00,000. The price increase will be effective from January, 2017.
In these challenging year-end market conditions, we are constrained to consider price increase on account of factors like increased input costs, fluctuating exchange rates and increasing marketing expenses. The proposed price increase will be up to Rs 1,00,000 and will be effective from January 2017 across all models from Eon to Santa Fe.Rakesh Srivastava, Senior Vice President, Sales and Marketing, HMIL
Tata Motors hike to be between Rs.5000 to Rs.25,000
On Monday, Tata Motors had informed that it will hike the prices of its passenger vehicles by Rs 5,000 to Rs 25,000 due to the impact of various macro-economic factors.
Nissan to hike prices by up to Rs 30,000 from January 1
Meanwhile Nissan on Tuesday said it will increase prices of its vehicles by up to Rs 30,000 from next month to offset higher input costs. The prices of Nissan and Datsun models in the country will rise by up to Rs 30,000, effective January 2017, Nissan Motor India said in a statement.
The price increase comes as a result of rising input costs. The revision of prices will help us offset the impact of this and maintain our competitiveness in the industry.Nissan Motor India Managing Director Arun Malhotra
The company sells a range of vehicles under the Nissan and Datsun brands starting with entry level small car Datsun Go priced at Rs 3.28 lakh to SUV Nissan Terrano Rs 13.75 lakh (ex-showroom Delhi).
Renault India and Toyota Kirloskar announced 3 percent hike
Renault India has also announce plans to increase prices of its vehicles by up to 3 per cent from next month for the same reason.
Earlier, Toyota Kirloskar Motor (TKM) had announced hike in prices of its vehicles by up to 3 per cent from next month to offset increased input cost and consistent upward trend in foreign exchange rates.