Already various automakers, including Toyota, General Motors India and the German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models and now its Nissan Group of India has announced that it will increase prices of its Nissan and Datsun range of vehicles by up to 3 percent from January 2016.
In a statement, Mr Arun Malhotra, Managing Director, Nissan Motor India said,"The price increase is to offset the rising input costs. The revision of prices will soften the negative impact and help the company stay competitive".
The models of this brand in India range from the Micra hatchback with price starting at Rs 5.17 lakh (ex-showroom Delhi) to SUV Terrano pricing Rs 12.92 lakh (ex-showroom Delhi). And the Datsun range of vehicles includes mini-segment car Datsun Go and multi-purpose vehicle Datsun Go Plus priced between Rs 3.23 lakh and Rs 4.76 lakh (ex-showroom Delhi).
Reportedly, the country's largest car manufacturer, Maruti Suzuki India had also said that it would hike prices of its vehicles across models by up to Rs 20,000 from January 2016 in order to offset the impact of rising costs and weakening of the rupee against the US dollar. And the immediate rival, Hyundai Motor India had also announced that the prices of its product would hike by up to Rs 30,000 from next month.
We believe the automakers making such year-end announcements will help them in clearing the inventories left after heavy festive-season discounts on their vehicles.