"We are going to raise the prices of all our products and will pass on the entire additional excise duty. Currently we are working on the exact amount of the hike," Maruti Suzuki India managing executive officer (marketing and sales) Mayank Pareek said.
Home-grown auto major Mahindra & Mahindra (M&M) also said it will increase the prices of its entire range of products.
"Given the current economic scenario and the revenue deficit of the country, the hike in excise duty was fully anticipated. Although the industry will not cheer about this, but we have to live with it," Mahindra & Mahindra president (Automotive and Farm Equipment Sector) Pawan Goenka said.
The industry will pass on the entire burden of excise duty to customers, he added.
Considering this, we will raise the prices of our vehicles by 2%–3%, translating into an increase of Rs 6,000 to Rs 30,000," Mr Goenka said, adding the exact amount will be fixed in due course of time.
The company will also increase the prices of its tractors by up to Rs 5,000 to Rs 6,000, he added.
Honda Siel Cars India senior vice president (sales and marketing) Jnaneswar Sen said prices of all locally produced cars will be raised.
"We will pass on the entire burden to customers. We are currently evaluating the quantum of increase. In case of small car Brio, it will be around Rs 7,000, while the same will be Rs 60,000 to Rs 70,000 for the luxury sedan Accord," Mr Sen said.
General Motors India vice president P Balendran too said the company will increase the prices of its all vehicles.
0 comments:
Post a Comment