Car-prices to remain constant in coming months

The top two car makers in India Maruti and Hyundai have indicated that there will be no hike in the price of their respective portfolio models in India in near future. Both the car makers are witnessing high growth figures in their respective sales in the month of May 2010.

Just two months back, car-makers in India had increased prices of their respective car models due to a 2% excise duty hike by the government of India. The car prices were again hiked in April 2010 due to the implementation of new BS-IV emission norms by the government in India.

According to Maruti Suzuki chief general manager (marketing) Shashank Srivastava, the Price increase in near future is highly unlikely; though the cost of input materials have gone up, there is competitive pressure in the market.

Maruti India, the largest car maker in the country, managed to sell 90,041 units of its cars in the domestic market, jumped by 27.2 per cent over corresponding month last year. This is the highest ever domestic sales in a month. The previous highest monthly domestic sale was 84,765 units, in February 2010. The company registered highest ever domestic sales in A2, A3 and C segments respectively.

While the Hyundai India, the largest car exporter and the second largest car maker in India, reported a sales increase of 15.52 per cent in the domestic market in May 2010. The company managed to sell 27,151 units of its cars in this month as against 23,503 units sold in May 2009.

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