Price of cars to rise in 2017? Chevrolet, Isuzu hike prices in India; vehicles to cost more from January

Joining the price hike club in India, Chevrolet and Isuzu Motors have announced that the prices of their offerings in the country will go up from January 2017. The hike has been attributed to the increasing manufacturing cost.

The car makers in India are on a price hike spree ahead of the New Year. The price hike, which will affect the entire range of Chevrolet, will see an increase in the range of 1 to 3 percent depending on the product and variant. On the other hand, the price hike of Isuzu Motors will be in the range of 3 to 4 percent. Isuzu sells D-Max V-Cross and D-Max S-Cab in India. While the D-Max V-Cross is currently priced at Rs 12.8 lakh, the D-Max S-CAB is sold at Rs 7.87 lakh (ex-showroom Delhi).

Announcing the price hike, Hardeep Brar, vice president of Sales & Network at GM India, said - "In the adverse market conditions the price hike is necessitated on account of higher manufacturing cost as the input prices surge year-on-year. In-line with the industry practice and rising manufacturing and other administrative cost, we proposed a price increase across our product line in India."

Earlier last week, German luxury carmakers Volkswagen and Mercedes-Benz announced price hike of their models. While the Volkswagen plans to increase the price by up to 3 percent depending on the model, the price hike of Mercedes-Benz will be up to the range of 2 percent. Carmakers like Honda, Toyota, Tata, Renault and Nissan are already in the list.

While the price hike of Toyota is in the range of 3 percent, the prices of Tata vehicles will go up in the range of Rs 5,000 to Rs 25,000, depending on the model. The prices of Hyundai models will go up by up to Rs 1 lakh and Honda's by up to 3 percent.