4th Gear:Toyota, GM, Ford to cost more
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08/07/2010
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Economic Times (New Delhi)
Carmakers To Raise Prices For Fourth Time This Yr; Hike To Range Between Rs 1,500 & Rs 20,000 In New Delhi
TOYOTA, General Motors and Ford are poised to raise car prices for the fourth time this year as they capitalise on cheap funding-fuelled demand and improve profitability that has been under pressure due to rising commodity prices.
Price of these car may rise anywhere between 0.5% to 3%, ranging from Rs 1,500 to Rs 20,000 in New Delhi, said company officials.
"There are cost pressures from various commodities as well as the currency fluctuations with a stronger Yen and Dollar that makes component sourced from abroad as well as imported cars costlier, forcing us to charge more," said Sandeep Singh, deputy managing director, marketing, at Toyota Kirloskar Motor.
Prices of Toyota