Car prices in India will go up with major manufacturers Maruti Suzuki, Hyundai and General Motors announcing marks up ranging from 0.5 per cent to 2.2 per cent, starting this month in order to offset rising input costs.
Maruti Suzuki, India's largest carmaker has increased prices from 17 January, ranging between 0.5 per cent and 2.2 per cent for all models, except the new hatchback Alto-K10, the company's managing executive officer (marketing and sales) Mayank Pareek said.
The hike will translate into an increase of prices between Rs1,000 and Rs8,000 across different models.
Hyundai Motor India Ltd (HMIL) also raised prices by 1.5 per cent for its Santro, i10, i20 and sedan Verna models beginning this month.
General Motors India also said it has revised the prices upwards by 1 per cent to 1.5 per cent early this month, resulting in an increase of price ranging between Rs2,500 and Rs15,000 across all models.
Tata Motors has already effected a hike in the prices of some its passenger vehicles between Rs3,000 and Rs15,000 and those of its commercial vehicles between Rs1,500 and Rs30,000.
Almost all automobile companies are expected to hike prices as the prices of basic inputs such as natural rubber, copper etc have increased.