Maruti hikes prices of all the modelsMSIL has hiked the prices of all its models; others may follow suit
Apnaloan.com Research Bureau
20 May 2008
Car manufacturers have begun hiking prices across various categories, despite a rollback in steel prices. While the country's largest passenger car manufacturer, Maruti Suzuki India Ltd (MSIL) hiked the prices of all its models with effect from May 17.
MSIL has increased the prices in the Rs. 1,000- Rs. 15,000 range across different categories. But the price of its newly launched Swift Dzire has gone up by Rs 18,000.
Other players such as Hyundai Motor India Ltd (HMIL) and General Motors India (GMI) are likely to announce price hike by the month-end.
As reported by Financial Express, according to an industry expert, a price increase by major manufacturers was long overdue as the prices of steel alone had gone up by around 40 per cent since January. Since the recent reduction in steel prices was not effective on alloy steel, which is a major constituent of the automobile industry, it was very likely that Companies would revise their prices, as they were reeling under the burden of rising input costs.