Indian auto-majors may hike car prices in new year

Many Indian car manufacturers are considering a substantial price hike in the year coming ahead. GM, Maruti and Hyundai are among those who might really do this. According to these OEMs, the culprits are increasing prices of crude input materials including petroleum products and aluminium. The expected price hike is up to 2% of car’s cost across all models.

Since new year is around the corner, OEMs are worried about clearing the stocks as soon as possible. New year will make their current cars one year older hence this step. Every single manufacturer will become aggressive on sales front. This timely announcement may be a part of their sales strategies.

Those who are planning to buy a new car and want to keep it for a little longer time (4-5 years or more), December is right time to take a decision. You will be offered great discounts by all manufacturers across all models. Yes, your car will become one-year-old-model but how does it matter, after all the discounts available will anytime be more than the extra depreciation due to December-purchase.

Go, buy a car this December!