Major car manufacturers, including Maruti Suzuki, Tata Motors, Mahindra, Audi, Hyundai, BMW, and more, are set to implement price hikes starting January 1, 2024. The surge is attributed to the escalating costs of commodities, primarily steel.
Audi: Uniform 2 Percent Increase Across Model Range
German luxury automaker Audi is leading the charge with a uniform 2 percent price hike across its diverse model lineup. This spans sedans such as A4, A6, A8 L, SUVs like Q3, Q5, Q7, and Q8, along with sportscars and electric vehicles, reflecting a comprehensive adjustment.
Maruti Suzuki: Variable Hike Reflecting Rising Production Costs
Maruti Suzuki, India’s largest car manufacturer, points to mounting production costs as the driver behind their impending price hike. The increase will vary across models, impacting vehicles from the Alto to the Jimny.
Mahindra: Intent to Raise Prices Amidst Inflation
Mahindra expresses its intent to raise vehicle prices due to inflation and the surge in commodity costs. While specific details are pending, the brand’s current lineup, including the XUV300, XUV700, Bolero, and Thar, is expected to be impacted.
Tata Motors: Plans for Passenger Vehicle Price Hike
Tata Motors plans to increase prices for passenger vehicles, including its electric vehicle (EV) range. Specific details are yet to be disclosed, but the brand’s extensive portfolio, featuring the Altroz, Harrier, Nexon, and more, will likely see adjustments.
Honda, MG, Hyundai, BMW, Citroen, Volkswagen, Skoda Join the Trend
Several other prominent players have joined the chorus of price hikes. Honda, MG, Hyundai, BMW, Citroen, Volkswagen, and Skoda have all confirmed increases in response to rising production costs and market factors. These adjustments will impact models ranging from sedans and SUVs to electric and luxury vehicles.
Hyundai: Multi-Faceted Approach and Flood Relief Initiatives
Hyundai Motor India, beyond announcing price hikes due to escalating input costs, adverse exchange rates, and commodity price increases, has actively engaged in social responsibility. The company is providing relief to flood-affected victims through emergency measures, showcasing a commitment to community welfare.
Year-End Offers Amidst Price Surge
Even as the industry gears up for price hikes, Hyundai has unveiled year-end offers for specific models, including Verna, Tucson, and Alcazar. These offers present discounts and benefits worth up to Rs 1.5 lakh, providing consumers with a strategic opportunity amidst the impending surge.
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