Car Price Hike
If you are planning to buy a new car, there is bad news for you. Several auto companies, including Tata Motors, Mahindra, Audi, Maruti Suzuki, and Mercedes-Benz India, are planning to increase the prices of their vehicles from January 2024. Maruti Suzuki has recently announced a variant-wise increase in the prices of its entire lineup next year. The company attributes this decision to the increase in input costs due to overall inflation and increased commodity rates.
Maruti Suzuki
Maruti Suzuki India had previously increased vehicle prices by 0.8% in April this year, resulting in an overall price increase of 2.4% in the last financial year. Now, the company is set to increase prices once again from January 2024.
Tata Motors
Tata Motors is also considering increasing the prices of its passenger and electric vehicles from January 2024. The extent and details of the increase will be announced in the coming weeks, according to a company spokesperson.
Mahindra & Mahindra
Mahindra & Mahindra has also decided to increase the prices of its vehicles. The CEO of the Automotive Division, Nalinikant Golagunta, stated that the price increase will be implemented from January 2024, with further details to be announced at the appropriate time.
Honda Cars India
Honda Cars India, in response to rising production costs, has announced its plans to increase the prices of its cars from January. The company is taking this step to offset the increased expenses. Similarly, MG Motor India will also be increasing the prices of its cars from January 2024.
These luxury companies will also increase prices
Mercedes-Benz India and Audi have also announced their intentions to raise prices from January 2024. Audi India stated that the price hike, up to 2%, is due to rising input and operating costs and will be applicable across all model ranges.
Related Updates You Should Consider
- Maruti Suzuki is set to increase the prices of its vehicles from January 2024, citing increased input costs and inflation.
- Tata Motors is considering a price hike for its passenger and electric vehicles from January 2024.
- Mahindra & Mahindra plans to increase the prices of its automotive products from January 2024.
- Honda Cars India will raise the prices of its cars from January due to rising production costs.
- Mercedes-Benz India and Audi will also increase the prices of their vehicles from January 2024.
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