Just yesterday Indian Drives gave you the news that some of the Auto companies like Maruti Suzuki, Volkswagen and Hyundai have given the traditional ‘beginning of the year’ price hike a miss this year. But here is a bad news for all you car lovers. General Motors have hiked the price of their cars. The hike is in the range of Rs3,000 to Rs.15,000, which means a hike of almost 0.5% to 1.75%.
This hike will affect all GM vehicles, right from their Chevrolet Spark to their Beat and Tavera vehicles. Analysts are baffled at this sudden price hike by GM since the market is already going through some sort of a downturn because of decreasing sales and increasing input costs. That is precisely why other car companies have kept their price hike decision on hold for the time being.
But there is no doubt that all manufacturers will be forced to hike the prices of their vehicles in the near future. Because rising inflation and production costs are already taking their toll on these companies. While a price hike from Maruti is almost imminent, companies like Hyundai and Toyota are still confused whether to go for a hike or not.