Car Prices hike from July 2010

By Priya Devi

Published: Thursday, June 17, 2010, 11:19 [IST]

Car manufacturers in India are devising plans to increase the price of cars from July 2010 due to the rise in raw material costs. According to Pawan Goenka, President, Auto and Farm Division of Mahindra and Mahindra, has stated that if the commodity prices continue to rise at the current rate, there is no other option for the car maker but to increase the price of the cars.

Rajesh Jejurikar, Chief of Operations, Auto Division, M&M said that since the price of steel and rubber have gone sky high, especially during the April-May 2010 upto 20-25%. But, owing to the huge sales of cars rising upto 35% when compared to the same period last year, the car makers will not have any risk in losing the robust Indian auto market. Its better that people who have plans to buy their cars can rush up now before the price hike in July 2010 and save their money to some extent.

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Article Published On: Wednesday, June 16, 2010, 15:44 [IST]

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