After the long time, Nissan India informed on Thursday that they are planning to increase prices across all its vehicle models from January 2013.
According to company generals, rising in prices due to input cost and currency fluctuation. Currently Nissan sells just three locally assembled models–the Micra hatchback, the Sunny sedan and the Evalia multipurpose vehicle.
Other domestic companies like Maruti Suzuki, Mahindras and Toyota, and General Motors, among others, have already announced price hikes to the tune of one to three per cent from January, even though most of them are facing sales decline.
Despite festive sales, the overall car sales fell over 8 per cent in November, according to industry body Siam data. Earlier this month, the market leader Maruti said it will effect 1-3 percent spike in prices from January.
The largest utility vehicle maker Mahindra & Mahindra and premium car maker Mercedes Benz also said they will hike prices effective from January.
The German luxury car maker BMW had said it would increase prices by 10 percent on some of the products from January. Audi India too has followed suit by announcing a price hike up to 5 per cent.
According to Timepass Fun market research, Companies are increasing prices just to meet their cost of input as well they are trying to compensate the decline in sales too.
