Hyundai and Honda cars get dearer in 2015

The new year has brought a change in car prices due to the Centre’s decision to charge higher excise duty. Maruti, Hyundai and Honda, have hiked their retail prices as a result and could be a big turn off for new car buyers this year.

Hyundai has increased prices of its vehicles from Rs 15,000 to 1,27,000 depending on models. Honda car prices have gone up from Rs 15,000 to 48,000 -  the Brio now costs over Rs 15,000, the Amaze by 19,000 and the City by up to Rs 48,000. 

Although, Maruti hasn’t given out the prices yet, rumours indicate that the Alto will cost Rs 10,000 more and the Swift will be dearer by 20,000 and the Dzire by 25,000. 

While we can blame the government for rolling back the excise benefits, the tight fiscal situation and a difficult fiscal deficit target of 4.1per cent of the GDP led them to hike the duty. The automotive industry will expect some new reforms from the Narendra Modi-led government’s first budget which will roll out in February.