New Delhi: Cars and bikes are set to become dearer with the beginning of the new year as most companies, including market leaders Maruti, Hyundai, Hero Honda and Bajaj, are set to raise prices to combat higher input costs.
To nurse bruised margins and push up sluggish December sales, most companies have announced increased prices to apply from January 2007. Maruti, which had last raised prices in August this year, has already informed its dealers that it will raise prices across its model range by up to Rs 12,000 from next month.
Hyundai India will also follow suit. "The margins have been under pressure and, thus, we have decided to go in for a price revision from New Year," Hyundai Vice-President Arvind Saxena said.
The company will raise prices by around 2 per cent across models, including that of its flagship Santro. Japanese car major Honda will also be raising prices of its models City, Civic and Accord by 1.5-2 per cent.
Other carmakers like Toyota and Skoda have also indicated they will be increasing prices from January. On the two-wheeler side, both market leaders Hero Honda and Bajaj have said they will be increasing prices in a range of Rs 500-1,000 from the New Year.
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