Cars of these five companies set to become further costlier!

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Your favourite cars are getting costlier and costlier. If you are thinking of bringing home your dream car, then, you should buy it now or you can even buy it during year end sale as companies are going to hike prices from January 1, 2024. India’s largest automotive company Maruti Suzuki India (MSI), home grown automobile manufacturers Tata Motors and Mahindra & Mahindra and luxury car makers Mercedes-Benz India and Audi India have also announced that their cars are going to become further costlier from next year onwards. Apart from Audi India, companies have not stated how much will be the price hike. But Audi India has outrightly stated that its cars will become costlier by up to two per cent across models. On the other hand, MSI, Senior Executive Officer (Marketing and Sales) Shashank Srivastava said the price hike would would be “substantial” in some models.

Tata Motors will also hike EV prices.

Since, April 1, 2022, Maruti Suzuki cars have become costkier by 3.2 per cent.

The automobile companies have continuously hiked prices on account of onboarding of BS VI phase – II compliant devices on vehicles. The government had made it compulsory for automotive companies to sell only those vehicles from April 1, 2023 which were fitted with BS VI phase – II compliant devices. Rise in commodity prices serves as the second factor behind recent round of price hikes taken by automobile manufacturers.

Cars of these companies have also become costlier:

Recently, the China based MG Motors had jacked up prices of its SUV, MG Hector by up to Rs 30,000. The ex-showroom price of basic variant of the SUV currently starts at Rs 14.99 lakh in New Delhi. South Korea based automotive company, Kia India, has announced, that it will hike prices of Kia Seltos and Carens. Mahindra has also recently hiked prices of XUV variants, Marazzo and Scorpio N.