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Honda To Increase Prices In Dec; Maruti, Hyundai & GM To Follow

Byas Anand | TNN



New Delhi: There’s a bit of bad news driving in for new car buyers. Come December, passenger cars will start driving up the price ladder all over again — fourth price hike in one year — and manufacturers are blaming the rising production costs and shrinking margins for this revision.

While Honda Siel Cars has communicated to its dealers the decision to hike prices of all its passenger cars in the range of 1.5% to 2%, General Motors India is close to finalising the quantum of increase to be effected on its cars. Two of the country’s biggest car makers — Maruti Udyog and Hyundai — too are reviewing their pricing plans and are expected to take a decision by the end of this year, sources said.

In general, the prices would be hiked by up to 3% across most models. This would translate to a Rs 4,000 hike on the tags of entry-level cars like Maruti’s M-800 and Alto, and can go up to Rs 10,000-20,000 in case of mid-sized and premium cars like Honda City and Chevrolet Optra.

For Honda, price revision will come into effect by this month-end or early December. A GM India spokesperson said the firm, under pressure from high production costs, will hike prices in December. “The quantum is to be finalised soon.”
Hyundai India V-P Arvind Saxena said an upward review in price tags is expected by the year-end or early January. Ditto for Maruti. This makes 2006 the only year when prices across most marques are being hiked for the fourth time — the first hike was effected in January, following by revisions in June and August.

hmm.. its tricky now .. should you buy your fav car now or wait. Just I was waiting for Swift Diesel to be launched. I am wondering if its overpriced and may not be viable option to buy it and have to go for swift petrol. But then swift P will be hiked in price. Moreover maruti swift is being discounted by 15k this Nov.

i was going to finalise the deal for my nhc next week now it will cost me an extra 20-30k :Frustrati :Frustrati

I thought the news said from december onwards and may not affect the current bookings.

It looks suspicious to me. It could be a PR execise by car manufacturers. It could be basically to push up November/December sales and also to lure those who have postponed their purchase to 2007.

No thats not the case. Honda has already increased their prices form 20k to 30k. Maruti has increased to 4k so 800 and alto are also going to be increased to 4k extra bugs.