The dawn of the New Year will be alarming for the car customers – the prices are to increase. The proposal is coming from the most popular companies like Toyota, Maruti and GM. The price rise may be in the range of 2-3% and the reasons cited for this hike are higher inputs, exchange rates and investments. GM is quite famous with its ranges of Chevrolet Spark, Aveo UVA, sedans Aveo,Optra, Cruze and SUV Captiva.

Toyota has to its credit Innova, Corolla, Altis and Fortuner and the price hike will be somewhere in the range of 1.5 – 2%. The decision has come off after a gestation period with the increase in all round manufacturing costs and the companies are forced to this extent, said an official from Toyota Kirloskar Motors.

Maruti is assessing the situation and would go along with other companies, if needed and the company is facing the fluctuation in its margin due to the factors cited for the hike. Now the burden has been passed on to the consumers from the automobile manufacturers.