Honda Cars To Become Dearer From Apr 1, GM & Ford To Follow Soon
The top car manufacturers of the world are going through a tough time of increasing cost of inputs for their production. Many of them are deciding whether to increase or not to increase the product prices in market to get a relief from stressed profit margins. Out of the entire scenario, Honda Motors, the japan based auto major has decided to introduce a hike of around two to three per cent on its offerings.
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the company has decided to increase the prices of all Honda cars leaving the luxury sedan, Honda Accord. The increased prices will come into action from 1st April 2011. Honda is not the only one which is facing a problem of increased input cost but all auto majors are finding it difficult to maintain the same profit margin in the scenario of increasing input prices.
Among the list we also have auto giants, general Motors and Ford which were recently heard working on increased pries of their car models. Other car majors have decided to take a final call on this issue by end of the running month which will bring the final result from them. As per the statements made by Ford India, the recent trend of increase in input cost is bothering the company a lot and thus a hike in prices will be announced soon to overcome the bad effect. The company has announced that the final decision on the hike in prices will be decided by the end of March 2011.
The company officials also said that it is not only Ford which is facing a great problem in coping up with the sky touching prices but almost all auto players are going through the same condition. Recently Ford made an investment of USD 500-million at its Chennai facility in order to enhance the plant’s production capacity.
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