Mitsubishi to Increase Car Prices in India
Posted on March 27th 2009Welcome back!
Bad news for Mitsubishi car buyers! Mitsubishi will hike the prices of all its models from 1st April in India. It will increase prices of all models by up to 4 to 5%.
In the last year and a half, the yen has appreciated 40 per cent against the rupee. This, combined with the appreciation of the US dollar, has come as a double whammy for us.
- Mr. Y.V.S. Vijay Kumar (Executive Vice- President, HM) said.
The rising yen has effected in imported equipments to get costly. Additionally, it’s not feasible to include home content in the Mitsubishi cars which indicates that there is large forex drop for both assembled and imported cars.
Mitsubishi has a JV with HM (Hindustan Motors) in the country and has an production plant in Chennai.
Mitsubishi’s high end SUV Pajero & Outlander which are priced at 21 lakh to 22 lakh will get expensive by 1 lakh. The Montero SUV will be available at Rs. 42 lakh, could witness a steep increase because duty taxes are high.
Also, company’s mid-size sedans : Lancer (original - Rs 8.20 lakh) & Cedia (original - Rs.10.29 lakh) will get costlier by Rs.40K and Rs. 50K respectively.
By editor in Auto India News, Auto Pricing, Hindustan Motors, Mitsubishi
dreamthecar responded on 30 Mar 2009 at 5:59 am #
Every car manufacturer is increasing the price across its models. The prices of the car are soaring up. Why aren’t government doing anything about it?
Rahul,
Indian Car Advisor