Tata Motors hikes prices, others may follow suit | autos | Hindustan Times
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Tata Motors hikes prices, others may follow suit

autos Updated: Mar 19, 2011 00:17 IST
HT Correspondent

Tata Motors will increase car prices by 2% from April 1, while other carmakers including Maruti Suzuki and Hyundai too are considering price hikes.

Most of the carmakers increased prices by 1 to 2% in January and another round of price hike is being initiated as there is no respite in rise in prices of major raw materials such as steel and rubber.

"Despite continuous cost control initiatives, the company is being forced to take these increases on account of steep rise in input costs," said a statement from Tata Motors.

"We are mulling about it," said Mayank Pareek, executive director, sales & marketing, Maruti Suzuki.

"Right now we are not increasing but we are considering," said a Hyundai Motor spokesperson.

Tata Motors increased prices of all models except for Nano which now costs between Rs 1.44 lakh and Rs 1.94 lakh, after its price was hiked in 2010 end.