New Year, New Prices: Automakers announce January price hikes amid rising costs
Industry experts, however, note that the exercise is also undertaken by automakers every year in December to shore up sales volume in the last month of the year, as customers postpone buyouts to later months to get the new year manufactured units.
«We have seen a few cycles of price increase in India. It happens at the beginning of the calendar year and financial year, but few OEMs pick the timing based on their planned launches as well,» Deloitte India partner Rajat Mahajan said.
While there could be multiple factors for the price increase, the key one is due to a decline in profitability of a few large auto OEMs in the second quarter, he added.
Due to the festive season, the price revisions were not done. Hence, this is expected at the beginning of Q4.
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