New Year 2023: THESE 10 automakers to hike prices of vehicles from January | PHOTO
Car Prices Hike: From Maruti Suzuki, Tata Motors, to Audi and Hyundai, many companies are increasing the prices of their vehicles from January 2023. So, if you are planning to buy a vehicle in the coming year, then check this list first.
Car Prices Hike: With the beginning of the new year, many automobile companies have announced an increase in the prices of their vehicles in India. From Maruti Suzuki, Tata Motors, to Audi and Hyundai, many companies are increasing the prices of their vehicles from January 2023. The decision, according to the companies, is aimed to offset the rising input cost and also to comply with the stricter emission norms that come into effect from April 2023.
So, if you are planning to buy a vehicle in the coming year, then check this list first:
Maruti Suzuki Cars Price Hike
Maruti Suzuki India has confirmed that it will increase the prices of its models from January 2023. The increase in prices will vary across models. While the company has not yet disclosed how much the prices of which vehicles will increase, however, it said that it is under pressure to offset inflation and meet recent regulatory requirements. So, it has become necessary to increase the prices of its vehicles.
Currently, the bestselling vehicles of Maruti Suzuki are Alto, Alto K10, Ignis, WagonR, Celerio, S-Presso, Swift, Eeco, Dzire, Brezza, Ciaz, Ertiga, XL6 and Grand Vitara.
(Pic: Reuters)
Honda Cars Price Hike
Honda cars will also increase the price of its vehicles from January 2023. In the new year, the prices of the entire range of the company will increase by up to Rs 30,000. This increase will vary across models.
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Hyundai India Cars Price Hike
To partially reduce the impact of rising input costs, Hyundai has said it will increase the prices of its cars from next month. The new prices for the model range will be applicable from January 2023.
(Pic: hyundai.com/in)
Tata Motors Price Hike
Along with Maruti Suzuki, Tata Motors has also decided to hike the price of its entire range. The company has announced an increase in the prices of its commercial vehicles from January 2, 2023. Customers will now have to pay 2 percent more for the company's vehicles. The price hike will vary from model to model and will be applicable across the entire range of commercial vehicles.
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Kia India Cars Price Hike
After the announcement of car price hikes by other auto companies, Kia also made the year-end announcement to raise prices from next month. After December 31, 2022, the company's cars will get dearer by up to Rs 50,000. Some of the popular Kia vehicles that will get dearer are Sonet, Seltos and Carens.
(Pic: kia.com/in)
Audi Cars Price Hike
Buying Audi's luxury vehicles will get costlier in the new year as the German automaker has said that it will increase prices of its entire model range by next month. Audi India confirmed that the prices will be hiked by up to 1.7 per cent.
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Mercedes-Benz Cars Price Hike
Along with Audi, Mercedes-Benz has also announced price hike keeping in mind increase in input and operational costs. The company will hike the prices by up to 5 percent from January 1, 2023. Mercedes-Benz India Managing Director & CEO Martin Schwenk said that although the company is absorbing the majority of the increase, it is left with no option but to pass on some portion of the cost hike to the customers.
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Jeep India Cars Price Hike
Jeep too has announced a price hike on its model range. The newly-launched Grand Cherokee along with Compass, Wrangler, Meridian are likely to become expensive by 2 to 4 percent.
(Pic: jeep-india.com)
Renault Cars Price Hike
Renault India said, "Reasons for the price hike are to partially offset the impact of constant increases in input costs largely driven by pricier commodities, fluctuations in foreign exchange rates, inflation and also due to regulatory obligations." However, the company did not disclose the quantum of its impending price hike.
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MG Motor Cars Price Hike
MG Motor India said it intends to increase prices by two-three percent soon depending on the model and variant.
(Pic: Reuters)