According to sources, a number of carmakers are jumping on the bandwagon after two key sector players raised prices, citing cost pressures and a weak rupee-dollar parity, which may have brought in a new round of price hikes from the industry.
However, Analysts expect that car prices will rise by up to 15%.
Car prices have risen at Indus Motor Company and Lucky Motor Company, and more Original Equipment Manufacturers (OEMs) and assemblers are joining the bandwagon.
Given the current trend, Suzuki, Honda, and Hyundai car prices are expected to rise in the next two weeks.
Honda could increase the price of the City and BR-V, as per Muqeet Naeem, a research analyst at Ismail Iqbal Securities.
