If you planning to purchase a new car early next year then you will have to pay more money because cars companies in India have announced the prices hike, which will be effective from January 2017. Car companies have cited increased input costs, fluctuating exchange rates and increasing marketing expenses as the reason for the hike in prices.
The following car manufacturers have been announced the pries hike from first week of January 2017:
- Hyundai India has proposed a price hike up to a whopping Rs. 1 lakh. The company said the price hike affects all models in the company’s line-up starting from the entry-level Eon hatchback, up to the flagship Santa Fe SUV and also affects the recently launched Tucson SUV.
- Honda Cars India has announced a price hike of up to 3 per cent for all its models.
- Tata Motors announced a price hike of its passenger vehicles starting from Rs. 5,000 upto Rs. 25,000 depending on the model.
- Nissan and Datsun range of car models will be prices hike by up to Rs. 30,000.
- Toyota Kirloskar Motor will increase prices of its entire models by up to 3 per cent.
- Volkswagen India to increase prices across its complete model range up to 3 per cent depending on the product and variant.
- Mercedes-Benz India has announced its plan to increase car prices in India by up to 2 per cent, varying across the model range.