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Our Bureau

New Delhi , March 15

PURCHASING a new car may make you dig deeper into your pocket from April onwards with several carmakers, including Maruti Udyog, Hyundai Motors and General Motors, planning to hike prices. Car manufacturers are citing increased costs of steel as the reason for the price hike.

The country's largest carmaker, Maruti Udyog, for instance, is planning an across-the-board increase in car prices from April 1. According to industry sources, the price hike will be in the region of 2-3 per cent. The proposed hike would also be applicable on the company's Euro III compliant models, which were launched recently and carry higher price tags than the Euro II models.

General Motors India, too, is planning to raise prices of its vehicles effective April 1. According to a company spokesperson, there will be a price hike of 2-3 per cent on the Chevrolet Tavera, and a 1-2 per cent on the Corsa and Optra.

Hyundai, too, is believed to be mulling a price hike of up to Rs 3,000 on its models in April.

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