Several car manufacturers have announced a price hike starting from the new year 2016, a move which also helps clear the previous year’s stock.
2015 has come to an end to make way for a new year. But 2016 is not going to be a good year for new car buyers. Several car manufacturers have announced a price hike across their product range starting with the New Year. The list includes manufacturers from Maruti Suzuki to Mercedes-Benz. This hike is aimed at setting off the rising input costs. Weak Rupee against Dollar is another reason behind the price hike. The fluctuations in overall foreign exchange have further contributed to the price hike. These are of course the reasons car makers would want everyone to believe.
This kind of price hikes is usually seen during this time of the year. Experts claim that this is a method followed by manufacturers to settle the heavy discounts offered during the festive season. Also an increase in new year car prices results in easier stock clearance of last year’s models. However, such a move was not expected this year due to the heavy localisation these manufacturers have achieved following the ‘Make in India; campaign. But, other factors seem to have defeated the localisation. Following is the list of manufacturers who have announced the price hikes.
Maruti Suzuki has announced a hike of Rs. 20,000/- across the product range. Following the arch rival, Hyundai has announced a price hike of up to Rs. 30,000/- on most of its cars. General Motors has decided to have a price hike of up to Rs. 20,000/- on all its Chevrolet cars. Honda has announced a price hike of up to Rs. 10,000/- which will differ from model to model. Tata Motors will have a price hike of up to Rs. 20,000/- on all the passenger cars. Toyota has announced a price hike of up to Rs, 31,500/- across the range.
All the Mercedes-Benz vehicles will see a price hike of 2%. BMW has announced a price hike of 3% on all its cars, the price hike will also be applicable to the MINI brand. Skoda has planned a price a hike of up to Rs. 33,000/- on all its offerings. Renault, Nissan and Datsun has announced a price hike of up to 3% across the range. The increase in prices will range between 1% and 3% and will be applicable on all the products from all the three companies. The Renault Kwid has got expensive by Rs. 3000/- to Rs. 11,000/-.
