Car maker Fiat India Automobiles today said it will hike prices of its sedan Linea and hatchback Punto by about 2 per cent from January due to rising input costs.
“We are going to increase prices of Linea and Punto by 2 per cent with effect from January 1,” a Fiat India Automobiles spokesperson told PTI.
The company is increasing prices as rising input costs in recent months have impacted margins, he added.
Besides higher raw material prices, Indian auto makers’ margins are under pressure due to the sharp fall of the rupee against the dollar in recent months.
To mitigate these adverse impact, auto makers such as Mahindra & Mahindra, Renault, Nissan Motor, Hyundai Motor, Ford, General Motors and Toyota Kirloskar have also announced hikes in the prices of their vehicles by up to 3 per cent from January 1.