New Delhi: After the drop of sales in the year of 2020, the automobile companies are planning to raise prices of vehicle from January 2021. The spread of coronavirus and the lockdown have badly affected automobile industry.
So to freshen up the industry and cope up with the losses, the major companies like Maruti Suzuki India Ltd, Hero MotoCorp Ltd, Honda Motor Co. and Mahindra and Mahindra Ltd (M&M) have announced that they would increase vehicle prices from January.
The companies said that the hike is necessary citing the need to offset rising commodity prices and other input costs. Commercial vehicles, passenger cars and two-wheelers have already seen a rise in price of 15% from April 1, 2020.
Even to the rise will effectively beneficial for the automobile companies that customers may also face some financial difficulties is enough EMI facilities are not allowed by the countries.