Planning to buy a new car next year? Get ready to shell out some extra cash from your kitty since most of the automobile manufacturers are all set to hike prices starting January 2015. Most of them are stating the reason of rising costs for the price rise. This price rise is taking place after a lean sales period during which car prices could not be raised. However, the auto manufacturers are now claiming the prices need to be hiked as the heavy discounts and increasing expenses given during the lean periods have badly affected the profitability.
Expected price hike by auto manufacturers for the next year:
- Maruti Suzuki – Maruti Suzuki will now hike prices after a period of 1. 2 years. A sharp 2-3% increase in the entire Maruti Suzuki range with Ciaz going up to Rs. 20,000.
- Hyundai India – The last hike was conducted in September 2014 from Rs. 8,000 to Rs. 18,000. Hyundai India is expected to marginally increase prices from Rs. 5,000 – Rs. 20,000.
- Mahindra & Mahindra – Mahindra & Mahindra increased prices in November 2014. The hike on Mahindra Cars on XUV Range, Scorpio and Xylo maybe between Rs. 6,000 – Rs. 10,000.
- Nissan – Prices for Sunny and Terrano can go up to Rs. 12,000 – Rs. 18,000. Prices for Nissan Micra can increase up to Rs. 7000-8,000. Datsun Go price can be further hiked by Rs. 10,000.
- Toyota Kirloskar – The auto manufacturer is expected to raise prices from 2-3% based on model variants.
- Honda Siel – Even though Honda has raised prices three times already in 2014. The manufacturer is expected to increase costs again in January.
- Ford India – Prices of Fiesta and Ford EcoSport is expected to increase by Rs. 10,000 – Rs. 12,000 in January 2015.
- BMW India – BMW India may increase car prices by at least 5 % and can increase the cost of BMW 7 Series by almost Rs. 5 lakh.
- Other car manufacturers – With the market leaders such as Toyota, Honda and Hyundai and Maruti all set to increase prices, the others too are bound to follow and hike prices in the coming months. Tata Motors, Mercedes Benz, Audi, Chevrolet India and Volkswagen may increase their price in 2% – 5% range.
Most of the auto manufacturers are all set for the hike prices to offset the rising cost of raw material and impact of strong dollar rate against rupee. So, in case, you are planning to buy a new car next year and want to save some extra cash, book your car now with the year-end bumper discounts being offered by almost all auto manufacturers.