Cars set to get expensive from January as OEMs announce price hikes
3 months, 3 weeks ago

Cars set to get expensive from January as OEMs announce price hikes

Live Mint  

New Delhi, Dec 8 Prices of various car models -- ranging from entry-level hatchbacks to high-end luxury offerings -- are set to rise as automakers have announced price hikes with effect from January. Icra Vice President & Sector Head - Corporate Ratings Rohan Kanwar Gupta said automakers generally take a price increase at the start of the calendar year to help offset factors like the increase in operational costs on account of inflationary pressures and commodity prices etc. The company, which sells models ranging from entry-level Alto K10 to multi-utility vehicle Invicto, said it is taking a price hike in light of rising input costs and operational expenses. Increased commodity prices and higher logistics expenses driven by persistent inflationary pressures are putting a significant strain on the company's overall operational costs, Mercedes-Benz India stated. Audi India will increase prices by up to 3 per cent across the model range due to an increase in input and transportation costs.

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