Tata Motors announced that the company is going to increase the prices of passenger vehicles by up to 36,000 because of the increased prices of through puts. These are showing effect on the margins and the profit of the company. The competitors like Maruti Suzuki India, Hyundai and Honda are also considering to increase the prices of their products.
Indica which is a hatchback, is at present available at price range of Rs 3.94 lakh and Rs 4.77 lakh. Under the revised price, the cost of the car increases by 7 to 9 thousand. While the prices of vista and the Indigo CS are going to increase by Rs 8,000 to Rs 11,000 which are currently priced between Rs 3.77 lakh and Rs 5.84 lakh, respectively. The prices of other vehicles like Sumo, Sumo Grande, Manza will be increased considerably, but the prices of the Nano will not be increased.
The other major companies in the Indian market like the Maruti and the Hyundai are also looking to the increase the prices of their products. Hyundai also looking to hike the prices but it is not finalized. Honda Siel Cars India, said it would hike the prices of all its products, except luxury sedan Accord, by two to three percent with rise in the costs of inputs with effect from April 1.