Automobile Industry

Maruti Suzuki, Honda & Ford Cars To Get Expensive From 1st January

Maruti Car Price Increase

The increased input costs cited as reason for the price hike.

Maruti Suzuki, Honda and Ford are the latest entrants to announce price hike across their model range that will be effective from next month (January, 2019). While Honda Cars India (HCI) will increase prices by 4 per cent, Ford India will hike prices by up to 2.5 per cent. The increased input costs (high commodity prices and foreign exchange rates) cited as reason for the price hike.

Car manufacturers like Tata Motors, Toyota Kirloskar Motor, Hyundai, BMW, Renault and Nissan have already announced the price increase across their product lineup. Currently, most of the carmakers are also offering year-end discounts and benefits on their vehicles.

Maruti Suzuki’s official statement reads, “It has become imperative for the Company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2019. This price increase shall vary for different models.”

Ford India Executive Director – Marketing, Sales and Service, Vinay Raina tol PTI, “We are taking this step due to the increase in input price owing to high commodity prices and frequent fluctuations in foreign exchange rates.”

Honda Cars India Ltd (HCIL) Senior VP and Director (Sales and Marketing) Rajesh Goel said, “Our input costs are up by 4 per cent already due to rise in input costs. In order to offset the impact we are looking to increase vehicle prices from January. We are currently in the process of working out the exact quantum of the hike.”

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