A few days ago, Maruti Suzuki Company announced that the prices of cars are going to increase in the new year. Following this announcement by Maruti Suzuki, other carmakers have also decided to increase the price of cars. But the important question is why car companies are going to increase the price of vehicles in the new year. Experts in the auto sector believe that car companies are announcing a price increase in the new year to sell their old stock. According to experts, if companies announce the increase from now, then customers will come to buy at the old price and buy a car to save money. This will eliminate the old inventory of car companies this year.
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Car sellers say that car companies are preparing to launch BS6 engines and this is increasing the cost of companies. Due to this, companies are going to increase car prices. The GST Council can also increase the tax on cars, after which the prices of cars are set to increase. Maruti Suzuki has not yet told how long it will going to increase the price of its cars.
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On the other hand, Maruti Suzuki issued a press release saying that the increased cost has a bad effect on the company for the last year. The company has no option but to increase the price. Recently, Tata Motors has also announced to make the cars expensive from January. There is a possibility that other rival car companies Hyundai Motor India and Mahindra & Mahindra (M&M) may also decide to increase the price of their vehicles.
