Generally, automobile companies increase the prices of their vehicles every year in January. This time it was believed that during the festive season after the lockdown, companies may defer their intention to increase the price to maintain the sales boom.
But Ford India, including the country's largest carmaker Maruti Suzuki, has decided to increase the prices of vehicles from next month. Both companies said on Thursday that they are going to increase the prices of all their models.
Maruti Suzuki has given this information to the stock markets. However, the company has not been told how much the price of the cars will increase. The company says that car prices due to constantly rising raw material prices.
On the other hand, Ford India says that it will increase the price by three percent. Vinay Raina, executive director (marketing, sales, and service), Ford India, said the increase in the price of vehicles could range from Rs 5,000 to Rs 35,000.
However, for the vehicles whose booking will be done this month, customers will not have to pay the increased price for them. All automakers are under pressure these days due to the continuous increase in the prices of raw materials associated with auto manufacturing. According to auto experts, soon after these two, other carmakers can also announce a hike in the price of the car.