Mahindra, Honda, Tata looking to hike car prices next month

Tags: Companies
Mahindra & Mahindra, Honda Cars India and Tata Motors are looking to increase prices of their models from next month, mainly to offset higher input and operational costs.

"We are actively contemplating increasing the prices of our vehicles in April due to increase in input and operational costs," Mahindra & Mahindra Chief Executive (Automotive Division) Pravin Shah told PTI.

The company hasn't decided by how much prices will be raised.

"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," Shah said.

Sources in Honda Cars India said the company is considering a hike in prices next month.

"The discussions are going on, there is a possibility," the source said.

Tata Motors said it may increase prices of passenger vehicles by 1 to 2 per cent.

Honda cars are priced between Rs 3.99 and Rs 24.36 lakh, while Mahindra passenger vehicles manufactured in the country retail between Rs 5.43 lakh and Rs 14.48 lakh (all prices ex-showroom Delhi).

Last month, Mahindra had reduced prices of its passenger vehicles by between Rs 13,000 and Rs 49,000, after the reduction of excise duty. Honda Cars India had also cut prices by as much as Rs 44,741.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Signalling good times, current account deficit is likely to grow from here on

    The current account deficit (CAD) numbers for April-June quarter declined sharply to 1.7 per cent of GDP.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Disruptive innovation in education

The past two weeks had a fair share of interesting ...

Rajgopal Nidamboor

Regain the spirit of focused power

For aeons, the human race has been experimenting with a ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture