A couple of day before we said Mahindra & Mahindra, has decided to raise the price of its passenger as well as commercial vehicle by 3 per cent and it would be effective from 1st January 2012. The company has informed the media that its decision to increase the price of its vehicle is due to the rise in the input cost. Apart from increase in the prices of raw material, the depreciation of rupee against dollar is another prime reason for the company to increase the price of its vehicles.
Now even other car makers like Ford, General Motors, Renault, Nissan Motor, Hyundai Motor, and Toyota Kirloskar have decided to increase the price of their vehicles by up to 3 per cent to mitigate the impact. Also we said, the price of sports utility vehicle Koleos of Renault India will also increase by Rs. 1 lac. Hyundai Motor India is not an exception as it looks forward to make 1.5-2 per cent increase in the price of its vehicle.
It is reported that Toyota Kirloskar Motor would increase the price of its vehicles by 1.5-3 per cent from 1st January. One can expect 2-3 per cent rise in the price of Ford India vehicles as per the decision of the company. However, the largest car manufacturer of India, Maruti Suzuki has not provided any figure yet, but there are speculations that prices of Maruti cars would also increase in the beginning of next year.