Soon see price hike for third time in Auto industry this year

The bhoot of inflation does not seems to be easy on market and specially on Auto market. There were already two times price hike this year and seems automakers do not find it adequate. According to automakers, in order to cope with price hike of raw materials etc, they need to increase price of their produces.

Prices are expected to increase by up to Rs 5,000 for mid-segment cars and up to Rs 12,000 for the bigger saloons and SUVs.

Besides the recent spurt in input costs, the industry is trying to protect its margins to maintain profitability and rationally absorb the recently-imposed specific excise duty of up to Rs 20,000 on all vehicles above 1500 cc.