Amidst a continuous rise in the price of raw materials, the leading car makers in the country are expected to take a decision on prospective price hike by the end of this month. It is the second time in this year when car makers are mulling to increase the price of their cars in the Indian market as before this, car prices were hiked in January 2011.
The Indian unit of Japanese auto giant Honda has already indicated to hike the price of its cars in the Indian market by 2 to 3 percent. The company said that it would hike the price of all its India portfolio models except luxury sedan Accord.
Another leading car maker Ford India had recently said that it will take a call on price rise by the end of this month. In a recent statement given to PTI Ford India's President and Managing Director, Michael Boneham said, "Surging raw material costs is worrying us and it is now the biggest concern for almost all auto-majors in the country." He added, "We have not decided anything yet (on hiking its car prices)...we will review the situation by end-this month."
Another car maker General Motors is also expected to hike the price of its cars by the starting of next month.
