Hi! Friends this is important information for all of you that if you are planning to buy any car in couple of month then please go ahead because the all makes are going to increase prices. So this is the right time for car buyers.
Maruti Suzuki sources said the company plans to announce a hike soon, as is Honda. However, Honda officials said it was too early to comment. A Tata Motors spokesperson refused to say whether they would raise prices.
The price of cold rolled steel, used in car bodies, has risen by Rs 12,000 per tonne over the last year. Hot rolled steel, used in other parts, rose recently by Rs 5,000 a tonne.
At least Honda Siel Cars India today (22nd April-2008) said it will increase the prices of its two Sedans City and Civic between Rs 5,000 and Rs 10,000 by next month.
A company official said the rising steel prices and other input costs have put immense pressure, which the company has been trying to absorb.
"But it has reached a stage where we have to pass on a part of it to the customers," the official said.
The quantum of increase could be between Rs 5,000 and Rs 10,000 across different variants of the two models, the official said, adding the exact amount was being worked out.
Already two wheeler maker Hero Honda has officially announced a price hike of Rs 500-1,000 across its various products.
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