Cars set to get costlier

NEW DELHI: Rising input costs may make your dream car costlier. Market leader Maruti Udyog on Friday hinted at a price hike; Hyundai Motor India said it will effect an increase across all products by the month-end. And while companies such as General Motors, Ford, Tata Motors, and Toyota Kirloskar Motors did not comment, Honda Siel said the company’s bottom line may be hit unless product prices are raised.

Experts said most companies could consider raising prices in the range of 3-5 per cent on account of the steep rise in costs of non-ferrous metals and tyres as well as freight charges.

Hyundai India managing director HS Lheem said: “We will increase prices from this month-end as there is a lot of pressure due to higher costs of inputs like plastics and of logistics.”

MUL played it safe and refrained from announcing any price rise but acknowledged that costs of inputs have risen significantly. “We are watching the situation before we decide to raise the prices of our cars,” an MUL statement said. “Our manufacturing operations are closed between June 19 and June 24 and a decision on hiking prices can be taken only after that.”