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Buy that car before the new year as price hikes are coming.

Date: 15-12-2018
Subject: Buy that car before the new year as price hikes are coming
New Delhi: For some, a long drive on new year’s day in a new car is the best way to start the calendar—holding with it the promise of a roadtrip-laced twelve months ahead. Buy that car right away, then, as carmakers—from Maruti Suzuki India Ltd to BMW AG—have announced price hikes from 1 January 2019 across all models.

And you thought 31 December 2018 being a Monday was the only downer.

Maruti Suzuki

Maruti Suzuki on 5 December announced it will hike its car prices from January to offset adverse impact of increase in commodity prices and foreign exchange rates. The carmaker, however, did not specify the quantum of the car price hike and was working out the range, a company official had said. “The cost of company’s vehicles has been impacted adversely due to increase in commodity prices and foreign exchange rates,” Maruti Suzuki India said.

Currently, Maruti Suzuki cars start from the entry-level Alto 800 to the best-seller Baleno up to the premium crossover S-Cross priced between ₹2.53 lakh and ₹11.45 lakh (ex-showroom, Delhi).

Tata Motors

Tata Motors too will jack up its car prices by up to ₹40,000 from new year’s day, just days ahead of the launch its most premium offering—the Tata Harrier. The reason: rising input costs and costlier fuel. The company’s car models range from Tata Nano to Hexa SUV priced between ₹2.36 lakh and ₹17.97 lakh (ex-showroom Delhi). The Tata Harrier, when launched, will take on the Jeep Compass and Mahindra XUV500. How that will be priced is now anyone’s guess.

Honda Cars India

Honda Cars India too has jumped onto the price hike bandwagon to partially offset the impact of rising input costs. The company, which sells the Amaze and City sedans in India, is currently working out the quantum of the price hike. “Our input costs are up by 4% already due to rise in input costs. In order to offset the impact we are looking to increase vehicle prices from January. We are currently in the process of working out the exact quantum of the hike,” Honda Cars India senior vice president Rajesh Goel said.

Honda Cars India currently sells models ranging from the hatchback Brio to the Accord Hybrid sedan priced from ₹4.73 lakh to ₹43.21 lakh.

Nissan and Datsun

Nissan India has said it will increase prices by up to 4% across models. “The revised prices will be applicable across all available models for Nissan and Datsun, effective 1 January 2019,” the company said in a statement. Nissan sells a range of passenger vehicles under two brands—Nissan and Datsun—starting from entry-level Datsun RediGo to Nissan GT-R priced between ₹2.56 lakh and ₹2.12 crore.

“In the wake of the global commodity price increase and shift in foreign exchange rates, we need to pass on the rising costs to our consumers,” Nissan Motor India director (sales and commercial) Hardeep Singh Brar said in a statement.

Ford India

Ford India has said it will increase prices by up to 2.5% for all of its cars, including the popular Ford EcoSport, citing the same reasons as above. Ford sells a range of models, from Ford Freestyle at ₹5.23 lakh to the Ford Mustang priced at ₹74.62 lakh.

Toyota Kirloskar, BMW, Renault and Isuzu have already announced similar price hikes. Only Hyundai and Mahindra are left, but it is only a matter of time before they follow suit.

PS Get a motorcycle, instead.


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