Published on Tue, Nov 24, 2009 at 14:16 | Source : CNBC-TV18
Updated at Tue, Nov 24, 2009 at 15:14
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Now, cars may get dearer
Automakers are poised to hike prices of automobiles, not once but twice. Sources tell CNBC-TV18 that auto manufacturers may increase car prices but 5–10% in January and another round of price hike may follow in April 2010.
Automakers are poised to hike prices of automobiles, not once but twice. Sources tell CNBC-TV18 that auto manufacturers may increase car prices but 5-10% in January and another round of price hike may follow in April 2010. Auto companies say the price hike would take place because of increase in commodity prices.
Typically, auto manufacturers increase prices in January even as discounts are handed out in the month of December.
The second price hike is also on account of the fact that Euro IV norms will kick in and most manufacturers are spending a lot of money in tweaking engines. Sources say that the hike in April could be to the tune of Rs 5,000-10,000 per car depending on engine specifications and the hike in diesel cars would be steeper.
