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Old 24th November 2011, 10:57   #16
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Default Re: Rupee free fall to affect car prices!

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Originally Posted by designersf View Post
I don't believe Maruti. They hiked the prices for diesel engines and now this. Maruti has the most localisation of any company in India. I can accept the hike if it is on their imported models but any hike in the prices of their B-segment cars will be unwarranted.
Maruti has not made a statement of increasing prices on all products (Only Diesel). Infact they have made statement that they would not be raising prices anytime soon as they are into exports as well and the fall in rupee leverages against the raise in import cost. Quoting Ajay Seth from MSIL.

MSI has both direct and indirect exposure to foreign currencies while importing components, and it imports about Rs 8,000 crore worth of parts annually, he added. “At the same time, we also export cars and that is benefiting at present. However, considering both, we are impacted as a net importer. The situation is affecting our margins,” Seth said. He, however, said the company does not have any plans at present to increase the prices of its products.


The statement could be found here
Rupee fall a double whammy for auto cos; GM, Toyota may raise prices | Firstpost
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Old 28th November 2011, 11:54   #17
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Default Re: Rupee free fall to affect car prices!

Car prices set to go up by upto 25,000/-.

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Carmakers plan to increase prices by up to Rs 10,000 for small cars and up to Rs 25,000 for sedans to offset the impact of weakening rupee on import costs despite the recent slump in sales.

Maruti Suzuki, Toyota, General Motors, Honda and Skoda Auto all plan to increase prices within days as the weakening rupee has pushed up costs of their imported components significantly, company executives said.

The rupee has weakened about 17% against the US dollar since January, hitting an all-time low Rs 52.73 last week, forcing carmakers - that import between 10% and 40% of components for different models - to consider price increases.

"We will have to pass on the cost to customers to offset the rising impact of depreciating rupee and the rising cost of making diesel cars that are currently selling like hot cakes," a senior Maruti Suzuki executive said on condition of anonymity. Maruti Suzuki, which imports components worth about Rs 8,000 crore annually, is losing 15% of the margins due to rupee depreciation, the person said.

Luxury carmakers such as Audi, which import fully-built models to feed the local market, too are expected to increase prices by up to Rs 50,000. Analysts say price revision could be disastrous in a sliding market. But carmakers may have already cut prices to lowest possible levels to survive in a tough and extremely competitive market, and may not be able to absorb rising costs.
Source - Car companies viz., Maruti, Toyota, GM & Honda may hike prices by up to Rs 25,000 on expensive imports - The Economic Times
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Old 28th November 2011, 12:13   #18
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Default Re: Rupee free fall to affect car prices!

Just for a sense of perspective - in the high end bicycles market, which is 100% imported, prices have gone up 10-15% and components have been lowered a notch - so often the bicycle's cost has practically gone up 20%+.

In cars without significant localization, expect a 2-5% hit easily given how badly the rupee has depreciated (and is expected to get worse)!
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Old 5th December 2011, 19:33   #19
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Default Re: Rupee free fall to affect car prices!

Toyota Kirloskar Motor to hike prices by up to 3% from January 1


"TKM will raise the prices of entire range of locally-produced vehicles by up to three per cent, one of its steepest rate hikes, from January 1 due to the weakening of rupee against the yen.
KM has already increased the prices of its vehicles thrice this year, in April, July and October, by a total of around 5 per cent. "

Toyota Kirloskar Motor to hike prices by up to 3% from January 1 - The Economic Times
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Old 7th December 2011, 10:07   #20
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After Toyota, now it is GM to hike prices by 1-2% by Jan; Beat diesel price up Rs 15000!

"In case of Beat diesel, we had an introductory price. Due to the current currency fluctuations and rising commodity prices, we have no option but pass it on to consumers," GM India Vice President P Balendran told PTI.

GM has hiked price of Beat diesel by Rs 15,000 with immediate effect, while the rest of the models' prices will go up by 1-2 per cent by January, he added."

GM to hike prices by 1-2% by Jan; Beat diesel price up Rs 15000 - The Economic Times
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Old 7th December 2011, 10:17   #21
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Default Re: Rupee free fall to affect car prices!

Small hike in price = discounts/freebies by dealer.
Small drop in price = discounts/freebies withdrawn

Companies like GM,Ford,Skoda etc (dealers especially) cannot afford to increase the prices when their market share in wafer thin.
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Old 7th December 2011, 14:16   #22
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HyundaI follows Toyota and GM in price hike by Jan 2012

"The price increase will come into effect in January, 2012. We are in the process of working out the specific increase on the various models. Broadly, the increase will be 1.5 to 2 per cent across all models," Hyundai Motor India Director Marketing and Sales Arvind Saxena told PTI today."

Hyundai Motorto hike prices by 1.5-2% by January - The Economic Times
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Old 7th December 2011, 16:21   #23
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Unhappy Hyundai To Increase Car Prices By 1.5 to 2% across all models In Jan 2012

Mr. Arvind Saxena, Director Marketing and Sales, Hyundai Motor India Ltd has confirmed that they are going to increase the price across ALL models between 1.5% - 2%.

Those who were planing to go for a Hyundai, should act now.

Welcome 2012!

MODS: Please merge, if a thread exists on the same.

Cheers!
Irish

Last edited by Irish : 7th December 2011 at 16:22.
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Old 7th December 2011, 19:52   #24
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Default Re: Rupee free fall to affect car prices!

This is a normal ploy by car manufacturers at this time of the year. What would a 2% hike mean when they are offering upto 10% discount now on many models (eg. Maruti duds).

This is primarily aimed at boosting year end sales and nothing else.
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Old 7th December 2011, 19:59   #25
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Default Re: Rupee free fall to affect car prices!

Well, rupee falling is just an excuse. At a later date if rupee climbs back to an exchange rate of say 45/dollar, would the manufacturers reduce the price. a Big NO. Then manufactuers would say that input costs have risen, labor costs have risen etc.

Rupee is just an excuse. Even if 1 Rupee = 1 dollar, manufacturers will still find some other excuse to raise prices.
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Old 14th December 2011, 10:45   #26
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Nissan to hike prices of Micra, Sunny petrol by up to 2 pc!

"Car-maker Nissan Motor India is understood to have finalised a hike in the prices of small car Micra and the petrol version of premium sedan Sunny by up to 2 per cent from January, mainly due to adverse currency movements."
The price increase will be for both petrol and diesel variants of Micra," the source said.

Nissan to hike prices of Micra, Sunny petrol by up to 2 pc - Auto - Auto News - ibnlive
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Old 14th December 2011, 14:28   #27
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Default Re: Rupee free fall to affect car prices!

With rupee hitting 53.80/$, bills of all the imported component will swell. Particularly high end cars. Let us experience some service bills for engine components.
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Old 14th December 2011, 20:19   #28
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"Renault India today said it will hike the price of its sports utility vehicle Koleos by Rs 1 lakh from January 1 due to depreciating rupee."

Renault to hike Koleos price by Rs 1 lakh from January - The Economic Times
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Old 14th December 2011, 20:34   #29
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Default Re: Rupee free fall to affect car prices!

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Originally Posted by avishar View Post
I should have written "Rare earth metals".Quite a lot of them are used,like Palladium in cat converters,and these have become extremely expensive over the past year or so,especially after china reduced export of these metals.Considering china is the worlds largest producer prices have jumped multiform.
Price reduction, never.

OT

I am told that the BEST bus ticket has the fare+5 Paise denoted, ever wondered what is that for..?

I was told that the subsidy was introduced during the 1971 Indo pak War as the war subsidy. ;last when I rode a bus (sometime in late 1990's) it continued to be there.
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Old 15th December 2011, 12:45   #30
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Mahindra & Mahindra announces price hike across all models from Jan-12

"M&M would be raising the prices of its products by up to 3 per cent, depending on models", the company said in a statement


Mahindra & Mahindra to hike prices of all models by up to 3% from January - The Economic Times
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