If you are planning to buy a car, then you better buy it before January 1, 2017. This is because the automobile companies have decided to raise the prices of almost all the cars across the nation. Tata Motors, Renault and Toyota had already announced the hike in price of their respective cars and now Nissan and Hyundai have also followed the above mentioned car giants.


The car manufacturers have stated increased costs as the reason for the hike in price of vehicles in India. The hike will come into effect from January 1, 2017.


However, post-demonetisation, the demand has also been on the decline. Therefore, by announcing this hike in prices of cars, people might just get a push to buy in December.


Hyundai has announced a hike of up to ₹ 1,00,000 across all models from Eon to SantaFe. Hyundai Motors India Limited Senior Vice-President, Sales and Marketing, Rakesh Srivastava stated they cannot consider the prices at this point of time in order to tackle increased input costs, fluctuating exchange rates and increasing marketing expenses.


Nissan also has announced a hike of up to ₹ 30,000 and Tata Motors’ hike will be ranging from ₹ 5,000 to ₹ 25,000.