From Tata to Renault, carmakers announce price hike from January 2023
Planning to purchase any of the vehicles from Kia, Tata, Maruti Suzuki and Audi? Then this news might upset you as the leading car manufacturing company is likely to increase the price from the new year.
According to the reports and media speculations, it has been revealed that step has been taken by the companies due to the input cost, which left the carmakers with no option but to increase the price of the vehicle.
Recently, the leading car manufacturer in India Maruti Suzuki announced that it will hike the price of vehicles starting in January. However, earlier, the company confirmed that it will only increase the price on the selected vehicle but sadly it has increased it on its entire range of vehicles including sedans, MPVs, MUVs, and SUVs, among others.
The firm already informed the customers about the price hike in advance on April 6, where they said that over the past year, the cost of the company’s vehicles continue to be adversely impacted due to increases in various input costs. Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike.
Following the trend, homegrown car makers also decided to increase the price of their selected vehicles. Reports say that there are expectations that the likely to hike the price between Rs 20,000 to 30,000 in its entire range.
The French automakers also informed that due to the rise in the price of input costs, they have to increase the rates on its vehicle in order to sustain themselves in the market.
The company also claimed that they suffered a huge loss in the financial year due to which the top officials from the firm took the decisions. Mea