After having witnessed revival in demand last month, major carmakers are set to raise

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prices beginning January 1, 2012. Considering the wait list for different cars, consumers booking their cars now, to be delivered in the new year, may be spared of the increased prices.

Car majors Hyundai Motor, Ford and General Motors on Wednesday announced a price hike on their models effective from January 1, 2012.

“The pressure of rising inflation and sharp rupee depreciation has compelled us to look at a price increase on our models. Broadly, the increase will be 1.5 to 2 per cent across all models,” said Arvind Saxena, director (marketing and sales), Hyundai Motor India. The company sells models priced between Rs 2.70 lakh (Eon) to the Rs 24 lakh Santa Fe.

“We are taking a price increase between one to two per cent on all our models,” said P Balendran, vice-president, General Motors India. The price of its highest selling vehicle Beat diesel will be increased by up to Rs 15,000 from its current price of Rs 4.29 lakh (ex-showroom, New Delhi), as the launch price was introductory, Balendran said. The company sells models starting from Spark small car at Rs 2.79 lakh to the Rs 22 lakh Captiva sports utility vehicle.

Ford will also increase prices by two to three per cent from January 1 on all its products following exchange rate fluctuations. Ford India sells Figo priced between Rs 3.71 lakh and Rs 5.73 lakh, Fiesta between Rs 5.5 lakh and Rs 8.20 lakh and Endeavour at Rs 17.99 lakh.

Toyota Kirloskar Motor has already announced a price hike of 1.5 to three per cent on its products from January 2012. Maruti Suzuki and Mahindra & Mahindra are also planning price hikes to offset rising costs but are yet to decide on the quantum. Analysts said that though the price hike is unlikely to hit demand of diesel cars, petrol car demand might see a further slump. In December 2011, carmakers are doling out huge cash discounts on petrol cars to the tune of Rs 60,000.