Business Daily from THE HINDU group of publications
Tuesday, Apr 08, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Apr 08, 2008 ePaper | Mobile/PDA Version |
|
|
|
|
|
|
|
|
Home Page
-
Automobiles Industry & Economy - Steel Auto industry feeling the heat of costlier steel
A file picture of Logan cars lined up for a drivathon in Chennai.– Our Bureaus Mumbai/ Delhi April 7 The automobile industry is feeling the heat of steep rise in steel price. While Tata Motors has hiked the prices of its commercial vehicles, Mahindra Renault has raised the price of its mid-size car, Logan. Other manufacturers may follow suit. However, small car majors Maruti Suzuki and Hyundai have retained their car prices. “There is a 3.5 per cent hike across the entire commercial vehicle range,” confirmed the Tata Motors spokesperson. This decision means the price of high-end Novus tractor will rise by above Rs1 lakh while the Rs 15.5-lakh muti-axle truck will be costlier by over Rs 50,000. The popular mini truck Ace will be costlier by around Rs 10,000. Tata Motors had recently slashed the prices of commercial vehicles by 2 per cent post-Union Budget. Though rising input cost is attributed as the reason behind the price hike, the company spokesperson declined to comment on how it will impact passenger cars and utility vehicles from the Tata Motors stable. Mahindra’s joint venture product with Renault, the mid-size car Logan, is going to be costlier by Rs 20,000 to Rs 30,000. “We are going to increase the price by around Rs 20, 000. This will vary from city to city. The price of petrol model of Logan has been increased from Rs 4.53 lakh to Rs 4.83 lakh ex-showroom Delhi,” said Mr Nalin Mehta, Chief Operating Officer of Mahindra Renault. The company sold more than 3,000 units of Logan last month. “We have to respond to the cost pressure and we feel that here is an opportunity to do that,” Mr Mehta said. The spokespersons of Maruti Suzuki, Hyundai Motor India Ltd and Honda Siel Cars India said the companies were not planning any increase in the prices of their cars now. Auto cos meet alloy steel producers on price issue Steel producers not inclined to cut prices on rising input costs Auto components industry reels under high steel price burden More Stories on : Automobiles | Steel
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
 |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2008, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
