Update: On December 11, 2017, Tata Motors announced that it would hike prices of its entire range of vehicles by Rs 25,000. Mayan Pareek, president of Tata Motors’ passenger vehicle business, said, “The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are optimistic on maintaining our growth trajectory in the coming years on the back of our robust product portfolio.” This means that the introductory prices of the Nexon will come to an end on December 31, 2017.
It’s almost the end of the year and so, carmakers have already started announcing price hikes across their product portfolio for 2018. So far, three Japanese carmakers have announced price hikes on its popular models. Honda Cars India said it will increase prices of its models by up to Rs 25,000 from January 1, 2018, to offset the rise in input costs. Honda Cars India sells models ranging from the Brio hatchback (Rs 4.66 lakh ex-showroom Delhi) to the Accord Hybrid (Rs 43.21 lakh ex-showroom).
Earlier in December, Isuzu announced that it would be increasing the prices of its offerings in India by up to Rs 1 lakh. The D-Max V-Cross pickup truck, which is currently priced at Rs 13.31 lakh, will be approximately Rs 15,000 dearer starting from January. Isuzu’s flagship SUV, the mu-X, which costs Rs 25.8 lakh (ex-showroom), will attract a price hike of up to Rs 1 lakh.
Toyota Kirloskar Motor, on the other hand, is set to hike prices by up to 3 per cent. The company said that it reviewed the input and freight costs before considering the price hike. “There has been an increase in the cost of manufacturing of vehicles. Frequent fluctuation in the global commodity prices and foreign exchange rates have continued to impact our input costs all this while, protecting the customers from price increase. However, due to the continued pressure of high costs, Toyota is considering a price increase of up to 3 per cent across models with effect from January 2018,” the manufacturer said in a statement.
However, if you are looking to buy a Toyota, now would be the right time as the manufacturer’s Remember December Campaign is underway. Customers can avail attractive schemes like 100 per cent on-road financing, interest rates at 4.99 per cent, and benefits ranging from Rs 40,000 to Rs 90,000 varying from model to model. This offer is valid on all car purchases till December 31, 2017.
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.
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