The current calendar year of 2017 is fast approaching its culmination in order to make way for a brand New Year. With the imminent arrival of the next year, the Indian auto industry is also preparing for a bunch of new things. Apart from planning sales goals, new products, updates and a whole lot of other things, the one thing that the auto makers commonly do as a part of their preparations for a New Year, is to hike the prices for their offerings.
In keeping with the general practice, Japanese automaker Isuzu has recently announced that it is going to increase the prices of its models that it offers for sale in the car market of India. The price increase will come into by 1st January, 2018.
Isuzu is still a very less known company in India and it is trying to establish its brand in the highly potential Indian market. Currently, Japanese company offers SUVs and pick-ups truck models in India. Isuzu has not mentioned any particular reason behind its decision of price hike. The company simply said that the price increase is likely to be between 3 to 4 percent across its entire model range. This means the Isuzu vehicle prices will go up by around Rs. 15000 on the D-Max pickup to Rs. 1 lakh on the MU-X premium SUV.
Isuzu presently offers four models for sale in India, namely the MU-X SUV, D-Max VCross pickup, D-Max single cab and the regular twin cab for the commercial market.
This year, Czech car maker Skoda was the first to announce price hike last month. Isuzu has fallen in line, while other automakers are also expected to follow soon.
Hiking the price range of car models is a pretty common practice among auto majors during the very start of a New Year. Thus, the car buyers usually always have to get hold of a new model year at an additional premium. Car manufacturing companies usually keep revising prices of their offering at the beginning of each year in order to ensure sustainable profit margins in accordance with growing production costs, growing component costs and other expenses. December is the usual month, when most of the auto makers announce their plans of increasing their product prices for the next year. These price hike announcements are also commonly soon followed by nice discounts in order to clear up the stocks of the ongoing year model cars, which would become backdated. Many Indian car buyers prefer to buy new car models with hefty discounts from the makers. Thus, the smart car buyers either choose to buy new car models during the festive season (September-November period), or better still during the month of December. While the festive season is good for overall attractive packages, discounts and even special prizes, most of the heavy cash discounts are offered especially during the month of December. Thus, for those car buyers who wish to save an additional amount while not compromising on which car they want to buy, December is the ideal month for purchase.