Car cos including Volkswagen, Hyundai and Maruti give a miss to price hike

This might sound as the happiest news for the car fanatics in last 15 years! The big champions of the Indian car market, like Maruti Suzuki, Volkswagen and Hyundai Motors have decided to give a miss to the habitual price hikes in January 2012. This has happened because of the dipping sales and falling demand thereby giving a golden opportunity to the consumers to buy new cars at last year’s prices.

According to the statistics, about 2.18 lakh units were sold in the month of September 2011, whereas these figures fell to 1.59 lakh in December 2011. This fall in sales was despite of the fact that companies and dealers were offering huge amount of freebies and discounts. On the other hand, the constant rise in the input cost and the irregular rupee depreciation in last couple of months added massive pressure on the companies that reduced their profit margin substantially. Any more hike without a doubt will drive the consumers away thereby leaving a dull global market situation.