As 2023 is coming in, vehicles in India will get expensive. Leading auto manufacturers in India have announced price hikes on a range of models starting next month. The decision is aimed to offset the increasing input cost and also comply with stricter emission norms, coming into effect April 2023.
According to the new norms, vehicles will need to have an onboard self-diagnostic device to monitor the real-time driving emission levels.
The company joins the likes of market leader Maruti Suzuki, Hyundai, Tata Motors, Mercedes-Benz, Audi, Renault, Kia India and MG Motor, who have already made year-end announcements to hike prices from the next month.
Honda Cars India Vice President (Sales and Marketing) Kunal Behl told PTI, “After assessing the consistent increase in the input cost of raw materials and upcoming regulatory requirements, we will have to undergo a price revision for our products from January 23. The increment will be in the range of up to ₹30,000 and vary from model to model.”
Check out the list of companies that have announced a price hike:
1) Honda: The Japanese car maker may increase price of its vehicles by up to ₹30,000.
2) Hyundai India: The price rise will vary across models and will come into effect from January 2023.
3) Jeep India: Jeep SUVs across models will see a price hike of 2-4%.
4) Maruti Suzuki: The company says the decision was prompted by continued cost pressure and recent regulatory requirements.
5) Tata Motors: The price rise will be for both the ICE and EVs models offered by the company.
6) Kia India: Kia vehicles will get expensive by up to ₹50,000 from January 2023.
7) Mercedes-Benz: The luxury car company will increase prices by up to 5%.
8) MG Motor: The company will raise prices of its SUV by up to ₹90,000.
9) Audi India: The company will raise car prices by up to 1.7 percent from January 2023.
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