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Hike despite sluggish sales
Hike Despite Suggish Sales. Maruti sells a range of small cars, sedans and MPVs, priced from Rs 2.84 lakh to Rs 10.02 lakh (ex showroom, Hyd).
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Hyderabad: Maruti sells a range of small cars, sedans and MPVs, priced from Rs 2.84 lakh to Rs 10.02 lakh (ex showroom, Hyd). Second largest carmaker Hyundai whose models will turn dearer by Rs 5,000 to Rs 25,000 says rupee depreciation is taking a toll on it. Homegrown automakers - Tata Motors and Mahindra - were the first ones to reveal their plans when they announced a hike by one to two per cent last month. GM joined the race by enhancing prices of its model range by Rs 5,000 to Rs 20,000. However, the decision of these three companies surprised many as their sales remained sluggish throughout 2014.
German luxury carmaker BMW which has been on the back foot for a year is also going for a five per cent hike in prices. As most of BMW’s models cost over Rs 20 lakh apiece, the hike will impose significant burden on the buyers. Interestingly, it did not indicate any reason for the move.
However, Philipp von Sahr, its Indian CEO, said despite the hike, BMW Group would maintain its premium position in market.
