 "A worker cleans a Mahindra vehicle inside the company's showroom on the outskirts of Agartala, capital of Tripura")
Two more companies, Honda and Hyundai, joined their peers today in raising prices of their vehicles following the addition of 'infrastructure cess' announced in the recent Union Budget.
India's second largest car maker Hyundai said it would increase prices in the range of Rs 2,889-Rs 82,906 with effect from March 1, 2016 across all its 10 models.
Read our full coverage on Union Budget 2016
Rakesh Srivastava, Sr Vice-President, Sales and Marketing said, "The new levies in Union Budget 2016 have led to price increase across the models ranging from Rs 2,889 to Rs 82,906. Today's customers are discerning on net off value offerings. The change in price value equations could alter the overall demand, from with-in the segment to across the segments and fuel types."
Honda Cars India said it will increase prices in the range of Rs 4,000-Rs 79,000 also with effect from March 1, 2016. Prices of the updated Amaze sedan were included in the announcement at the launch on Thursday.
In a surprising move utility vehicle segment leader Mahindra & Mahindra said it will not increase vehicle prices immediately with the exception of the KUV100. The Mumbai-based company will raise prices in the range of Rs 5,500-47,000 on April 1.
Car market leader Maruti Suzuki and Tata Motors and Mercedes-Benz have already announced their hikes.
