Maruti Suzuki, Tata, Kia, Audi, and others to hike prices
What's the story
If you are planning to buy a new car, we advise you to do it right now. As per various reports, carmakers such as Maruti Suzuki, Tata, Mercedes-Benz, Audi, Renault, and Kia are set to increase the prices of their offerings from January 2023. The hike will be done to offset the rising input and operational costs to comply with the upcoming emission norms.
Carmaker #1
Maruti Suzuki
India's largest automaker, Maruti Suzuki has confirmed that it will be increasing the prices of its entire line-up. The hike will be done according to the model. The brand claims that the hike is necessary to cope with not just the rise in commodity prices, but also due to the pressure from the government's stricter emission norms and safety mandates (six airbags rule).
Carmaker #2
Tata Motors
One of the strong promoters of EVs in India, Tata Motors is also known for its four- and five-star rated SUVs and hatchbacks. Shailesh Chandra, Managing Director of passenger and electric vehicles has confirmed that the company is looking to increase the prices of all offerings from January to comply with stricter emission norms that come into effect from April 1, 2023.
Carmaker #3
Renault
French carmaker Renault is also opting to increase the prices of its passenger vehicles in January to cope with the fluctuations in foreign exchange rates, inflation, rising input costs, and regulatory changes. Although the brand has not declared the exact rise in amount, we can expect it to be on par with other manufacturers. The company currently sells KWID, Kiger, and Triber in India.
Carmaker #4
Kia Motors
South Korean carmaker Kia Motors has announced a hike of up to Rs. 50,000 on its entire model line-up from January 2023. The company is citing a rise in transportation and commodity costs as a reason behind the price revision in India. The hike will be applicable on bookings after December 31. The brand has five vehicles in its portfolio on our shores.
Carmaker #5
Audi
Touted as one of the top luxury car brands in the world, Audi is set to hike the prices of its entire portfolio in India from January. The German automaker will increase the prices of all offerings by up to 1.7%. The brand claims the revision is primarily to offset the rising supply-chain related input and operational costs on our shores.
Carmaker #6
Mercedes-Benz
One of the top luxury automakers, Mercedes-Benz will be increasing the prices of its entire portfolio in India by up to 5%. Martin Schwenk, Managing Director & CEO of Mercedes-Benz India said that the upcoming price correction will ensure the brand's premium positioning on our shores and that the brand will continue to offer best-in-class ownership experiences to its potential customers.