Car Price Hike: Cars of Maruti, Tata and Honda to Become Expensive Soon
If you are planning to buy a car, then you must buy it by the end of this month, as next month you may have to pay a higher price. Due to rising costs, Tata Motors, Honda and Renault may increase the prices of their cars by early next year in January 2022 to offset the impact of rising costs. Earlier, Maruti Suzuki, which sells the largest number of cars in the country, and luxury auto companies Audi and Mercedes-Benz have already announced to increase prices from January 2022.
Auto companies will increase prices due to an increase in cost
Tata Motors Passenger Vehicle Business President Shailesh Chandra said that commodity prices, raw materials and other types of costs continue to rise steadily. To partially offset the effect of this increase in costs, future price increases cannot be avoided. Honda, which sells brands like City and Amazes, increased the prices of its cars in August this year as well.
According to Honda Cars India, it is looking at increasing the prices shortly. A company spokesperson said, "Input cost has been severely impacted due to increase in commodity prices. We are still studying how much the price can be increased."
Renault said that it is also looking at a "substantial" price hike in its vehicle range from January. The French company sells models like Kwid, Triber and Kieger in the Indian Renault market. With the sharp rise in prices of essential commodities like steel, aluminium, copper, plastics and precious alloys in the last year, companies have been forced to hike prices.
Maruti, Audi and Mercedes-Benz have already announced about the hike
Maruti has announced an increase in the prices of its cars from January 2022 next year. However, this increase will depend on the model. In addition, Mercedes-Benz has announced a hike of up to 2% on some models due to more features and rising costs. On the other hand, Audi cars can also be costlier by 3 percent from January 2022 next year. Cars across all Audi models may become costlier due to rising input and operational costs.