It has been learnt from reliable sources that Nissan Motor India has decided to burden the pressure-stricken consumers by raising the prices of small car Micra and the petrol model of Sunny Sedan. The car maker mulls upon hiking the ownership cost by 2 per cent in view of depreciating value of rupee against the dollar.
According to sources closely associated with the development, Nissan has already put forward its intentions of swelling the prices of its vehicles and finalised over the degree of the increase. "The company is suffering from the falling rupee and rising yen. The input costs for the company are also rising. For protecting its margins, the company will hike the prices of the Micra and Sunny petrol by 0.5-2 per cent from January 1," a source was quoted as saying.
However, a Nissan Motor India Pvt. Ltd. (NMIPL) spokesperson refused to comment regarding the development.
The costs of the petrol and diesel versions of the Micra start at around Rs. 4.11 lacs and Rs. 6.17 lacs (ex-showroom Delhi) respectively. On the other hand, Nissan Motor Company offers the petrol-engined version of Sunny at a price range of Rs. 5.78 lacs and Rs. 7.68 lacs (ex-showroom Delhi).
As a matter of fact, the prices of the diesel version of Sunny Sedan will not witness any kind of hike as it has been brought out recently. "The price increase will be for both petrol and diesel variants of Micra," the source said.
It must be noted that the rupee was forced to give away its 56 paise, eventually recording an all-time low value of Rs. 53.40 per U.S. dollar. The incessant boost in the demand of American currency from banks and importers, along with news of negative growth in industrial output making rounds in October have proved detrimental.
With the continuous fall of rupee, as compared U.S. dollar, in the recent past, car manufacturers viz. Hyundai Motor, Ford, General Motors and Toyota Kirloskar have seen rise in prices as the last resort. The car makers are expected to hike up the purchasing cost of its vehicles by 3 per cent with effect from January 1.
The country's second largest auto maker, Hyundai Motor India Limited is contemplating upon a 1.5 to 2 per cent escalation from January next year.
General Motors India recently stated that a rise in prices by 1 to 2 per cent from January 2012 is on the cards. The car maker is likely to raise the price of its Beat diesel model to the tune of Rs. 15,000 as the New Year arrives.
Toyota Kirloskar Motor also joins the league by announcing a price hike of 1.5 to 3 per cent for all its models produced in India.
Thus, it seems that the buyers will have a tough time tackling the immense pressure from car makers, at a time when inflation and lending costs are already eating up their desires.
