Cars to get Pricier - Hyundai, Maruti, Honda and Others Mulling Over Price Hike

The 2014 Indian Auto Expo had fueled an array of launches this year and even as we are approaching towards 2015, launching spree is on! We know, few launches were introduced at enticing prices but soon these cars along with others may get pricier. As the automaker are considering price hike for their popular models to recuperate losses. Cars like Hyundai Elite i20, Maruti Ciaz may go pricier from their introductory launch prices. So if you're planning to buy anyone of these or other popular ones, we are afraid, you need to hurry!    

Speaking on this matter, Rakesh Srivastava, Senior Vice President, Marketing and Sales - Hyundai Motor India, commented,  "We are feeling the pressure now, as there have been no effective price changes for the past several months, while discounts peaked. We have also launched four new cars this year with huge investments that need to be recovered."

"We have been postponing any change in prices to balance it with customer demand even as Hyundai Motor has grown in sales over the last year. We will take a considered decision on the price increase and are currently working out the exact quantum of hike," he added further. 
 
Adding more on this, Honda India’s Senior VP marketing, Jnaneshwar Sen enlightens that the company is mulling over price rise for popular models. Maruti executive also commented, "While the market situation has been fluctuating over the past few months, the 10 per cent growth in retail sales with robust 108,000 vehicles sold in October gives us the confidence for a price revision on selective models in coming weeks,".

Automakers says that the year started with a positive growth but till now it was a serpentine path and even the anticipated festive months did not bring the awaited results. Now, as the carmakers offered huge discounts in the festive season to lure customers; they need to recover the losses, most likely through price hike. Moreover, the relieved excise duty cut is also going to end by 31st of December and still there’s no nod from the Government to extend it further.

Source: ET