TVs, ACs, cars to get costlier soon: Here's why
Prices for TVs, air conditioners, and cars are set to rise soon as companies deal with higher costs from tensions involving Iran, pricier materials, a weaker rupee, and steeper shipping bills.
These hikes might wipe out the benefits from last year's goods and services tax (GST) cuts, and could make shoppers think twice before upgrading their gadgets or wheels.
Panasonic, Tata Motors, and Mercedes-Benz are among the companies affected
LG is bumping up AC prices by 10%, with other electronics going up by as much as 5% starting in April.
Panasonic is raising AC prices by 8% to 12%, while Samsung says TV prices are climbing thanks to expensive memory chips.
Carmakers aren't holding back either: Tata Motors is hiking vehicle prices by up to 1.5%, and luxury brands such as Mercedes-Benz and BMW are expected to raise prices by up to 2% next month.
Industry insiders worry these frequent increases could cool off demand just when things were looking up.