Automakers including Tata Motors, Honda, and Renault are planning to raise car prices beginning in January to offset the rising costs of raw materials. Maruti Suzuki, Audi, and Mercedes-Benz have already announced price rises for their vehicles that will take effect next month.
In January 2022, Maruti will raise prices by up to 2% on certain models, while Mercedes-Benz will raise prices by up to 2% on some models owing to enhanced functionality and increasing input costs. Audi, on the other hand, has announced a 3% price hike effective January 1, 2022, across its whole product range.
Tata Motors (passenger car firm) President Shailesh Chandra remarked, “The costs of commodities and raw materials and other inputs continue to climb. ” A price hike to at least partly offset these rising expenses is expected in the near future. in the short run. ” In the domestic market, Punch, Nexon, and Harrier are among the company’s offerings.
In addition, Honda Cars India has said that a price increase is possible in the near future. Raw material prices have had a significant influence on the cost of inputs. According to a spokeswoman for the corporation, “We are presently investigating how much can be absorbed.” In August of this year, the manufacturer of models including City and Amaze boosted car pricing.
A “significant” price hike across Renault’s whole line of automobiles is also being considered for January, according to the company. Kwid, Triber, and Kiger are some of the models sold by the French business in India.
Commodities including steel, aluminum, copper, polymers, and precious metals have risen significantly over the previous year, forcing businesses to boost prices. As a result of rising shipping prices, the entire cost structures of original equipment manufacturers have been affected (OEMs).
