In a bid to give a major boost to the sales of their portfolio cars in the Indian market, the leading car makers have decided to skip the previously scheduled customary price hike in the month of January 2012. The car maker including Maruti Suzuki India Limited (MSIL), Hyundai Motors India Limited (HMIL) and Volkswagen India have skipped the customary price hikes in January. This is the first time in last 15 years when leading car makers have decided to sell their new models at the last year’s pricing, a major step to pull crowd to their showrooms.
The Indian automobile industry has been struggling with slowing down car sales since last six months. From the peak of 2.18 lakh units sold in the month of September 2011, the car sales in India dipped to mere 1.59 lakh units in the month of December 2011. The major fall in the sales registered despite a series of freebies and discounts offered by the car makers.
Speaking on the company’s prospective price hike, Maruti Suzuki’s managing executive officer (marketing & sales) Mayank Pareek, said in a recent statement that the company is yet to take a final decision on the matter of price hike, and the firm would soon be increasing the prices of its car models. The similar statement came from Toyota Kirloiskar’s senior executive, saying that The change in price is expected in the next few days.
