Tata Motors, M&M increase prices
The rise in prices of inputs has forced the car makers to increase prices of their models. It’s not only Maruti which has raised the prices of its models; there is hike in the prices of Tata Motors’ Indica and Indigo, and Mahindra and Mahindra’s Xylo, Mahindra Scorpio and Mahindra Bolero. The raise in the prices of Tata Indica and Tata Indigo will vary from Rs 5,000-8,000. Utility vehicle maker Mahindra and Mahindra has also raised the prices ranging from Rs 6,400 and Rs 9,300 on its Sport Utility Vehicle. While its Utility Vehicle Xylo price is increased by Rs 4,600, Bolero sees Rs 4,800 hike.
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The rise in prices of inputs has forced the car makers to increase prices of their models. It’s not only Maruti which has raised the prices of its models; there is hike in the prices of Tata Motors’ Indica and Indigo, and Mahindra and Mahindra’s Xylo, Scorpio and Bolero. The raise in the prices of Tata Indica and Tata Indigo will vary from Rs 5,000-8,000. Utility vehicle maker Mahindra and Mahindra has also raised the prices ranging from Rs 6,400 and Rs 9,300 on its Sport Utility Vehicle. While its Utility Vehicle Xylo price is increased by Rs 4,600, Bolero sees Rs 4,800 hike.
Malhotra, senior VP, Automotive Sector, Mahindra and Mahindra commented on the hike in prices that the primary reason for hike across all their vehicles was due to increase in the input costs. The price rise on Tata Motors and Mahindra and Mahindra automobiles will be applicable on new 2010 models.
Hyundai Motor, the second-largest car manufacturer of India, is also contemplating a price rise. Maruti Suzuki has raised the prices of its models by Rs 10,000. The appreciation of Yen is another factor for Japanese car manufactures Siel Cars and Toyota Kirloskar Motors Ltd to increase the prices as appreciating Yen has increased the costs of manufacturing.
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