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Hike in Car Prices from Jan 2013: Market Gimmick?

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TNI Bureau: In a desperate bid to clear the stocks ahead of New Year, the major carmakers have hinted at a price hike from January 2013, making the customers go into huddle and rethink on their future plans. It could be a market gimmick, but the car companies know it well that they would achieve their goal. They did the same last year too. And, this time it’s no different.

The General Motors, which makes the Chevrolet range of cars in India, has decided to hike prices of all its models by up to 3 percent from January to address the issues of currency fluctuation and hike in input costs.

Maruti Suzuki, Hyundai and Toyota Kirloskar have also decided to hike the prices of their cars by 1-2 per cent from the new year. The car companies believe that the announcement to hike the prices and offer of discounts during December, would help them clear the stocks and prepare for the challenges ahead.

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