Manufacturing cost rises in the Indian market
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Suzuki Motors, India’s largest auto company, recently stated that the company has increased the prices of all its models, with price increases ranging from 1,000 to 10,000 Indian rupees (between 22 and 225 US dollars). It is reported that Suzuki Motors occupies half of the Indian passenger car market.
Honda India Company stated that the company started to increase the price of cars sold in India by 1,500 to 47,000 Indian rupees on March 6. Hyundai Motor Co., Ltd. announced that it plans to increase the price of its cars by 1% in the next few days. -1.5%; India's domestic automaker Tata has said that due to the increase in the cost of production of automobile production, the company will increase the price of its passenger car products from April 1.
According to reports, the recent increase in the price of automobile sales in the Indian market is the second wave of price increases triggered by higher raw material prices, which first occurred in January 2011.
Insiders pointed out that the Indian market is very sensitive to the price of cars, and small cars with low prices are the most popular in the market. Therefore, car manufacturers will very cautiously increase the price of cars in consideration of the fierce competition.