In addition to the left out car manufacturers, two-wheeler manufacturers will also be increasing the prices of their vehicles shortly. All automotive vehicle manufacturers in the country are joining the price hike bandwagon one by one. The reason for this is the rise in input costs especially of steel. Lately, a few car companies like BMW, Maruti-Suzuki, Tata and M&M have hiked prices of their products citing the above reason.
TVS Motor Co is likely to be the first motorcycle manufacturer to increase the prices of its products. The company’s President of Marketing, H.S.Goindi confirmed to Reuters that there is a chance that TVS might increase the prices of its products in the next few weeks. He also said that the evaluating the complete commodity pricing for its products.