Sorry But Here’s The Bad News: Car Prices Are Likely To SkyRocket
Amid increasing costs of raw materials, marketing expense and fluctuating exchange rates along with the Clean Environment Cess, the car prices for several brands will be increasing from January 1st, 2017. Not really a good start the New Year, is it?
You could expect heavy discounts on units left unsold in the year 2016, however, the prices will soar as high as Rs.1 lakh for some cars. Cars as small as Hyundai Eon to Mercedes Benz will see a hike in their prices. With demonetization already slowing down the automobile sector, this could further dampen passenger car sale in the coming year.
While Tata Motors has announced a hike starting from Rs.5,000 going till Rs.25,000 depending on the model, Hyundai as announced a hike going to up Rs.1,00,000. Other brands like Nissan will be increasing the prices by up to Rs.30,000 while Toyota will be implementing a price hike of about 3% effective January 1st, 2017.
If you are waiting to buy a newer model of the car you are planning to buy, you might want to consider buying it this year itself while it’s still possible, else you might have to dig your pockets deeper next year and pay more just because the year has changed.
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