Fiat to cost more from January 2012

Tuesday 20 December 2011, 12:36 PM by

Fiat India to hike car prices by 2% from January

Due to continuous rise in input costs, Fiat India Automobiles announced price hike for Linea and hatchback Punto by about two per cent, effective from January 2012. The rising input costs in the past few months have lowered the profit margin for the automaker. Apart from increased raw material expenses, car making enterprises in India are further impacted by sharp fall of the Rupee against the US Dollar in recent times.

Other notable automakers are following the same approach to nullify adverse impact. Mahindra & Mahindra Renault, Nissan Motor, Hyundai Motor, General Motors and Toyota Kirloskar have already made official announcement of hiked prices of their vehicles. Mahindra & Mahindra has increased cost of its line-up by 3 per cent, whereas Renault India's sports utility vehicle Koleos will come at an extra Rs. 1 lac from January 1st. Nissan Motor India announced price hike of Micra and Sunny by up to 2 per cent.

The heavyweight automakers of India, such as Hyundai Motor India and Maruti Suzuki India, are also mulling a price hike to reduce impact of depreciating rupee and increased input costs. Hyundai Motor India is likely to increase cost of its line-up by 1.5 to 2 per cent from January. Further, Ford India cars will cost 2 to 3 per cent more from January, while General Motors India models will carry an extra cost of 1 to 2 percent from January, 2012. Toyota Kirloskar Motor also announced 1.5 to 3 per cent increase in price of cars from January 1, 2012.

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