Monday, 28 November 2011

Car companies viz., Maruti, Toyota, GM & Honda may hike prices by up to Rs 25,000 on expensive imports




The car companies may revise the prices of its cars by up to Rs 10,000 for small cars and up to Rs 25,000 for sedans to offset the impact of weakening rupee on import costs despite the recent slump in sales.

The car makers which had earlier scheduled to look for price rise on 1st January 2012, will now review the prices even before that owing to external factors the most recent of which is depreciating rupee.

The weakening rupee has had an adverse effect on car makers like Maruti, Honda, Toyota and General Motors. Those automakers who depend on imports will bear the brunt of the Indian rupee losing out to the US dollar. Car makers are having to import components at a higher price. The rupee has lost out to the US dollar by as much as 17 percent since January, hitting an all time low of Rs 52.73 last week.

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