Following the increase in the cost of raw materials, various car manufacturers are likely to increase the car prices from the range of Rs 4,000 to Rs 16,000.
The Prices of essential commodities like steel, copper, alloys, pig iron, coke, ferro manganese, ferro alloys, and rubber, crude oil have risen by 30-70 per cent in the past few months.
Mahindra and Mahindra, Tata Motors, Maruti Suzuki, and Hyundai are trying to absorb price hikes but fear a the difference will be passed on to buyers
Maruti Suzuki India, the car market leader is looking at a possibility of increasing the price to nullify the increase in the prices of aluminium, nickle, plastic and rubber.