As expected, more and more automakers are joining the price hike bandwagon for the new year. Following Mercedes-Benz, Toyota and Hyundai, Tata Motors, Skoda and Nissan have also announced marginal price hikes starting from January 2016.
In a statement, a Tata Motors spokesperson revealed that the prices will be increased for some models by up to INR 20,000 due to change in macro-economic factors. The company hasn’t revealed model wise price hike details yet.
Meanwhile, Skoda India is gearing up to increase the prices across its model range in the range of 2-3%. The VW-owed Czech automaker says that the price hike is aimed at offsetting raising input costs and varying market conditions. Depending on the model and variant, the price would increase by INR 14,000 to INR 50,000.
Nissan too has announced that the prices of its models in India will go up by up to 3% starting from January 1, 2016. Datsun cars too will become dearer. Mr. Arun Malhotra, Managing Director, Nissan Motor India Pvt Ltd, said:
The price increase is to offset the rising input costs. The revision of prices will soften the negative impact and help the company stay competitive.
The considerable price increase in the new year may push several buyers to advance their purchase decision to December 2015.
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