Planning to buy a car next year? Prices likely to go up from January

Come the New Year, buying your dream car could soon become a costly affair. Major car manufacturers in the country are planning to hike car prices across models from January next year. Toyota Kirloskar Motor, the maker of SUVs like Innova and Fortuner, has said that it is mulling to increase prices of its models by up to 3 per cent from January, to offset the impact of rising input costs.  

According to a report in The Economic Times, Maruti Suzuki and Hyundai Motor India Ltd have said they didn't plan to increase prices as of now. Mahindra and Mahindra, on the other hand, could hike the prices by Rs 7,000-30,000, depending on different models.

Honda Cars India has said it will increase prices of its models by up to Rs 25,000 from January 1, 2018. "We plan to hike prices across our models ranging between 1-2 per cent from January," a Honda Cars India Ltd (HCIL) spokesperson said.

HCIL sells models ranging from hatchback Brio with price starting at Rs 4.66 lakh to Accord Hybrid priced at Rs 43.21 lakh (ex-showroom Delhi).

Skoda Auto India had earlier announced a price hike of 2-3 per cent on all its models.

Isuzu Motors India had also said it will increase prices of its models by up to Rs 1 lakh from January 1, 2018. The increase is expected to be between 3 and 4 per cent across the model range.

"This means that the prices will go up by around Rs 15,000 on the D-Max (Regular Cab - Commercial Vehicle) to Rs 1 lakh on the premium SUV mu-X," it added.

The company sells models ranging from adventure utility vehicle V-Cross with price starting at Rs 13.31 lakh to premium SUV mu-X priced up to Rs 25.8 lakh (ex-showroom Delhi).

Meanwhile, auto dealers are offering discounts and other offers, in the range of Rs 25,000 and Rs 8.85 lakh, on certain vehicles. The benefits include cash discounts and exchange bonuses on select models by companies including market leader Maruti Suzuki to luxury carmaker Audi, and everything in between.