Telco hikes Indica prices

The official attributed the hike in prices to increased production and other related costs. The hike follows close on the heels of price increases effected this month by other car makers like Maruti, Hyundai, Ford, Toyota Kirloskar, Hindustan Motors, General Motors and Daewoo.

Domestic car makers are under pressure to hike prices following fall in the rupee value, implementation of uniform sales tax and also increase in global steel and fuel prices and other production-related costs.

Cumulative domestic sales (April-December 2000-01) of the Indica car have dipped by 14.4 per cent to 31,958 units from 37,223 units sold in the first nine months of the previous fiscal.