Major car makers Hyundai, Mahindra & Mahindra and Honda increased prices of their cars by up to Rs. 82,906, following introduction of new levies in the Union Budget.
Country’s largest car maker Maruti Suzuki India has already hiked product prices in the range of between Rs. 1,441 and Rs. 34,494. Mercedes-Benz will become costlier by up to five lakh and passenger vehicles from Tata Motors will cost up to Rs.35,000 more.
Hyundai Motor India said the increase, effective from March 1, will be between Rs.2,889 and Rs.82,906 depending on the model. Its Senior Vice President (Sales and Marketing) Rakesh Srivastava said: “The change in price value equations could alter the overall demand, from with-in the segment to across the segments and fuel types.”
While the price of base variants of Eon will to up by Rs.2,889, i10 will be costlier by Rs.3,848; Grand by Rs.4,286; Xcent by Rs.4,726; Elite i20 by Rs.4,886; Active i20 by Rs. 5,857; Verna by Rs.5,677; Creta by Rs.27,192; Elantra by Rs. 45,044 and Santa Fe by Rs.82,906.
Likewise, Honda Cars India hiked the price of its entry-level car Brio in the range of Rs.4,000 to Rs.6,000, premium hatchback Jazz between Rs.5,000 and Rs.19,500 and mid-sized sedan City from Rs.24,600 to Rs.38,100. Additionally, its multi-utility vehicle Mobilio will now cost Rs.21,800 to Rs.37,700 more.
Utility major Mahindra & Mahindra announced an increase in prices of its passenger vehicles by Rs.5,500 to Rs.47,000, effective April 1.