Zee Media Bureau
New Delhi: Amid an array of new car launches by automajors this year, popular auto makers such as Maruti Suzuki India, Hyundai, BMW among others are planning to hike the prices of cars, a newspaper quoting sources said on Wednesday.
The hike in prices may come to adjust higher raw material costs and logistics costs. Hyundai Elite i20, Maruti Ciaz may cost more from their introductory launch prices.
This year Indian Auto industry saw many new cars which hit the roads. Some of them were Honda Mobilo, Maruti Suzuki Ciaz, Alto K10, Tata Zest, Hyundai Elite i20, Fiat Punto Evo and many others.
While many new cars were launched in recent times to woo customers at attractive prices still the auto firms failed to keep up with the sales.
Auto sales picked up during the festive season but fizzled out otherwise.
In two-wheeler segment, Honda MotoCorp and Honda Motorcycle have already hiked prices of scooters and motorcycles.
Festival season failed to bring cheer to car makers, as major players including Maruti Suzuki India, Hyundai and Mahindra failed to register significant sales growth during the month, which otherwise has been one of the best periods for vehicle sales in the country.
While Maruti Suzuki and Hyundai posted marginal rise in sales during October, others including utility vehicle major Mahindra & Mahindra, Toyota Kirloskar and Ford registered decline in sales as compared to same period of previous year as sentiments remained subdued.
