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15
December 2017
 |
Cars (The Total Investment
& Insurance Solutions)
Automobile
companies on Thursday said they will hike the prices of their vehicles
effective January 2018.
The Total Investment & Insurance Solutions
SUV
manufacturer Mahindra & Mahindra (M&M) announced that it plans to
increase prices of its passenger and commercial vehicles by up to 3 per
cent.
According
to the company, the upward price revision will be effective from January 2018. The Total Investment & Insurance
Solutions
M&M
Automotive Sector's President Rajan Wadhera said: "We have been holding
back on 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."
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 Total Investment & Insurance
Solutions
Volkswagen
Passenger Cars' Director Steffen Knapp said: "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 industry."
On
Wednesday, automobile major Maruti Suzuki India had said that it will increase
the prices of its entire passenger vehicle range by up to two per cent from
January, due to rising input costs.
The Total Investment & Insurance Solutions
"The
company will go in for an upward price revision by up to 2 per cent due to
rising input costs," a Maruti Suzuki India official told IANS.
Earlier,
Tata Motors had said that it will increase the prices of its entire passenger
vehicle range by up to Rs 25,000, starting from January to offset the impact of
rising input costs.
The Total Investment & Insurance Solutions
Ford
India had also said that it will increase the prices of all its vehicles by up
to 4 per cent from January 1, 2018.The Total
Investment & Insurance Solutions
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