Just a few days after cutting car prices by a decent 2-3 per cent, several auto companies are considering a hike in prices in the month of January to increase profit margins. This is being considered mainly because of the weakening rupee, which has led to a rise in import costs, particularly for cars with high import content.
Maruti Suzuki, Honda, Chevrolet and Toyota may all hike car prices by 2-3 per cent. Honda has already made public its plan to increase the price of the CRV by Rs. 1 lakh in January 2009. Chevrolet cars will get costlier by up to Rs. 57,000 while Corolla plans to raise prices by up to Rs. 30,000.
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