Maruti Suzuki declared to raise the price of its car models as a result of the increase in input costs, including that of steel. Now Tata Motors and Mahindra & Mahindra have joined the same bandwagon to offset input cost.
The Indica cars and the Indigo range from Tata Motors stable will be dearer. In the same way, the Xylo, Scorpio and Bolero from Mahindra & Mahindra have become costlier now.
Tata Motors has hiked the price ranging from Rs 5,000-8,000 on the Indica and Indigo car models. India’s famous SUV maker Mahindra & Mahindra has also raised the price of its most successful Scorpio SUV by something between Rs 6,400 and Rs 9,300. While The Mahindar Xylo has now become costlier by Rs 4,600 and the Bolero now comes with Rs 4,800 more.
The primary reason for the price hike is the rise in price of the inputs required to make cars and car parts.
The price rise on Tata Motors and Mahindra & Mahindra automobiles will be applicable on the new 2010 models.
India’s second largest car maker Hyundai is also contemplating a price rise. While Honda and Toyota have hiked their car prices as a result of the appreciation of Yen.
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