Car prices across the segments are all set to increase in the New Year 2018. Many companies like Skoda Auto, Toyota Kirloskar Motors, Tata Motors, and Honda Cars India have already announced the price increase.
This is being a New Year phenomenon every year when the car makers resort to price increase across their portfolios.
Skoda Auto has announced that the price increase will be within the range of 2-3 percent depending on the product and the variants while Toyota Kirloskar Motor (TKM) is set to raise the price by 3 percent from 1st January, 2018. The Tata Motors too has announced the price increase of its entire passenger vehicle segment ranging up to Rs.25, 000 to meet the rising input cost. Mr. Mayank Pareek, President, Passenger Vehicle Business, Tata Motors said while announcing the price increase; “The changing market conditions, rising input costs and various external economic factors have compelled us to consider the price increase. We are optimistic on maintaining our growth trajectory in the coming years on the back of our robust product portfolio.” The introductory price of the Nexon will also come to an end by 31st December 2017 and its price is all set to rise in the New Year.
Honda Cars India has also announced that the company is increasing the price of its models ranging up to Rs. 25,000 from 1st January, 2018 to meet the rise in the input cost. Isuzu too had announced that the company is increasing the prices of the cars in India by up to Rs. 1 lakh.
While the prices are set to rise in the New Year 2018, the current month being the last month of year 2017 has brought up cheers to auto market by announcing hefty year end discounts across the board and other benefits to buyers to clear the inventory pile up. The consumers need to decide their priorities and if they are prepared to forego the attraction of 2018 model tag, they can very well jump to buy the dream car of their choice in the current month itself and avail huge discounts.