Dream to own a car to become costlier in 2018; Major automobile manufacturers to hike price

New Delhi, Dec 20: Owning a car, is a middle-class Indians dream. The dream could get costlier from January-2018,  with several car manufacturers planning to raise prices across models to absorb the impact of rising input costs.

Japanese multinational automobile manufacturer Nissan Group’s India faction announced a price revision across its Nissan and Datsun range of models to the extent of hike of up to Rs 15,000, effective January 1, 2018.

The decision comes in the wake of Nissan’s attempt to optimise manufacturing efficiency while tackling additional costs incurred from the rise in input price, manufacturing and production cost.

“With the rise in input and manufacturing costs, Nissan has decided for a price hike across all Nissan and Datsun models with effect from January 1, 2018. The revised pricing will help us to optimise our manufacturing efficiencies and continue to serve our customers pan India,” said Jerome Saigot, Managing Director, Nissan Motor India Pvt. Ltd.

Another automobile manufacturer Volkswagen India also announced an upward price revision of up to Rs 20,000 across its product range effective from January 2018.

“The price increase is essential on account of several external economic factors as well as fluctuations in the global commodity price and local input cost and is in line with the industry,” says Volkswagen Passenger Cars’ Director Steffen Knapp.

Ford India had also said that it will increase the prices of all its vehicles by up to 4 percent from January 1, 2018.

Volkswagen and Nissan aren’t the only companies that have revealed plans to hike prices.

Just over a week ago, automobile major Tata Motors announced that the company had decided to hike prices of its entire passenger vehicles range by up to Rs 25,000, starting January 2018, once again attributed to rising input costs.

One of the leading SUV manufacturer of the country Mahindra & Mahindra (M&M) announced that it plans to increase the prices of its passenger and commercial vehicles by up to 3 percent.

According to the company, the upward price revision will be effective from January 2018.

According to Mahindra and Mahindra Automotive Sector’s President Rajan Wadhera, they have been holding back the price hikes and absorbing the higher input costs for a while. “But with the increase in commodity prices we will have to take a price increase,” says Wadhera.

One of the most popular car manufacturers in India, Maruti Suzuki also has reportedly facilitated a similar hike in its vehicles.

With car prices set to increase in the coming days, make sure to go out and get the car of your dreams within December itself as many carmakers are offering interesting discounts on various models right now.

(With Agency Inputs)