This is not a very welcome news for Indian car market amidst the fast approaching festival season. Toyota India and Hyundai India both have announced that they are likely to hike their car prices very soon because of the pressure of high input costs and raw material price.
The expected price rise of Hyundai cars will be approximately about 1% and Toyota has not indicated any figures as yet. Maruti Suzuki has also indicated they might not be offering additional discounts this festival season as extensively as it happens usually in festival seasons. This is all an outcome of the ever rising inflation and input costs to the automobile industry.