Cars will become more costly: Cars Prices will increase by 2-3 percent

If you are determined to be Car owners its a bad news for you. Due to the increase in production costs, cars can be expensive In some coming time. Where Some car companies are planning to increase prices such as Toyota, Ford and Fiat vehicles, the major auto company General Motors has decided to raise prices next month. car manufacturers have already increased prices three times this year.

Car companies had increased prices in the wake of the rise in production costs first time in January this year. After that prices were increased again due to increase in excise duty in Budget. Then after that when emission standards applied, car companies had increased prices.

Sandeep Singh, Deputy MD[Marketing] of Toyota Kirloskar Motors said the current situation is being reviewed. By the end of this month, a decision over price hike can be taken. Warka Nigel Executive Director [Marketing & Sales] of Ford India said that the surge in raw material prices are being assessed. Maruti Suzuki India has also expressed similar views.

P Balendran Vice President of General Motors India said that the company will increase the cost across all eight models, by two to three per cent from first week of July. The company is forced to raise prices. That's because the rubber and steel prices have increased quite rapidly from second quarter of last year. Given this the company has no choice left except increase price . In recent days, prices of commodities have increased by 25 percent.

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