Fiat India to hike its car prices up to 2% from January 2012
Published On Dec 20, 2011 03:27 PM By Vikas for Fiat Linea
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Bad news for Fiat car lovers! Fiat India is planning to raise its car prices in the country up to 2% from January 2012. The main reason behind such a rise in prices is because of the amplified cost of input material. The most loved Fiat car models in the Indian portfolio comprise of Fiat Linea sedan and hatchback Fiat Punto. Both these cars will become expensive by up to 2% from January 1st 2012. As per the statement given by an executive of Fiat India, the firm is planning to hike prices of both Fiat Punto and Fiat Linea by up to 2 percent from 1st January 2012.
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The executive also mentioned that the ever increasing input material cost have made the company decide to raise the prices of its car in the country. Also the deflation of the Indian rupee value against US dollar has put more pressure to increase the price of its car models as there has been a massive decline in the margins of the firm’s profit since a past couple of months. Looking at the hatchback car of Fiat, which is Fiat Punto, it has been pretty successful in luring the consumers towards it. This hatchback was launched about a year ago and since then it has been facing a serious competition from cars like Maruti Swift, Ford Figo, Skoda Fabia and Hyundai i20.
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On the other hand, Fiat Linea sedan has also managed to grab a lot attention since the time of its launch and managed to survive the major competition from sedans like Volkswagen Vento, Nissan Sunny, Skoda Rapid, Honda City and Ford Fiesta. With such a hike in car prices, Fiat India has joined the bandwagon with other car makers in India who have by now announced to amplify the prices of their products in the Indian car market. These car makers include the big daddies of the Indian car market, such as General Motors, Mahindra and Mahindra, Toyota, Tata Motors and Hyundai.
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