Cars to get costlier in January
Step is being taken in view of the slowdown, weak rupee and high cost of raw materials
■ CHANDIGARH: Come January, the prospective car buyers will have to shell out more money for purchasing a new vehicle, as major automobile manufacturers are set to raise the prices in view of high manufacturing cost.
The manufacturers are planning to raise the price by 2 % to 4 %.
The company officials said automobile majors, like, Honda, Maruti, Huyundai, Toyata, including luxury carmakers, like, Audi, Renault, all are evaluating the hike.
"There has been a considerable impact of increase in raw materials cost and the rupee depreciation with respect to dollar and euro. Continuous increase in raw materials price prompted us to take this painful step," said Marc Nassif, managing director of Renault India.
I was planning to buy a car in the beginning of 2012, but now, I may delay the purchase by two or three months
Renault has announced the hike in the price of its latest sport utility vehicle (SUV) Koleos.
The new price, which is expected to be around Rs 23.99 lakh, will be implemented from January.
Toyota is also likely to increase prices between 2% and 4%, ranging between Rs 10,000 to Rs40,000, from the first week of January, said the officials, who were refraining from disclosing the model.
30-year-old Nishant Sharma said, "I was planning to buy a car in the beginning of 2012. With manufacturers raising the prices, I might delay the purchase for 2-3 months."
27-year-old Vishal Sharma, a DELL employee, said, "I had planned a new car but the uncertainty in the I-T sector forced me to put it off.”
“Besides, the manufacturers are also raising the prices, I think I should wait for a while," he added.