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Automobile manufacturers to hike vehicle prices
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SME Times News Bureau | 20 Mar, 2018
Automobile manufacturers have announced that they will hike vehicle prices, effective April 1, 2018 due to rising input costs.
According
to Tata Motors, it will increase prices of its entire passenger
vehicles range by up to Rs 60,000 due to rising input costs. The new
prices will be effective from April 1, 2018.
"The rising input
costs, changing market conditions and various external economic factors
have compelled us to consider the price increase but we are optimistic
on maintaining our growth trajectory in the coming year on the back of
our robust product portfolio like Tiago, Hexa, Tigor and Nexon," said
Mayank Pareek, President, Passenger Vehicle Business, Tata Motors on
Tuesday.
In addition, Nissan India also announced that prices of
Nissan and of Datsun vehicles will be increased by up to 2 per cent
across all available models.
Nissan currently offers the Micra, Sunny and the Terrano and Datsun offers the Datsun GO, GO+ and redi-GO in India.
"Due
to rising input costs, we will be increasing the price of our Nissan
and Datsun cars with effect from 1st April, 2018," said Nissan Motor
India's Managing Director
Jerome Saigot.
"We are confident that our cars will continue to offer excellent value and choice to our customers."
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