Mahindra, Honda and Tata may increase car prices from April

Mahindra and Mahindra Ltd., Honda Cars India Ltd. (HCIL) and Tata Motors are planning to increase the prices of their cars starting April. The decision has been taken due to the rising input and operational costs.

Sources have affirmed that the companies might raise the prices of their products from April in order to compensate the huge costs the manufacturers have to bear due to ever rising expenses. While Mahindra has confirmed the price hike, Honda is also considering the same. Tata Motors might start with the increase in the prices of the passenger vehicles by next month.

Pravin Shah, Mahindra & Mahindra Chief Executive (Automotive Division), while confirming to PTI, said, "We are actively contemplating increasing the prices of our vehicles in April due to increase in input and operational costs. We have not yet taken a final decision on the quantum and timing but this a matter we are seriously considering right now. It will happen for sure in April."

This revelation comes right after the prices of vehicles were reduced post the excise duty cut announced in February. Recently, Mahindra cut the cost of its passenger vehicles in the range of Rs 13,000 to Rs 49,000. Similarly, HCIL had also announced a price cut up to Rs 44,741. Whether this hike in prices of vehicles affect the sales or not, only time can tell, but this announcement is surely going to upset the prospective buyers.

Source: IBNLive