From Maruti Suzuki to Mercedes: Cars in India to be pricier from January 2024
- Passenger vehicles in India across different segments and different brands are all set to become pricier from January 2024.
Over the last few days, car manufacturers in India have been making headlines for a reason that's not among the consumers' favourites. The car manufacturers present in India have been announcing their price hike moves for their respective passenger vehicles. While mass-market players such as Maruti Suzuki, Mahindra, Hyundai, Honda, Jeep, Volkswagen, Skoda and Tata Motors have announced price hikes, luxury car manufacturers like Mercedes-Benz, Audi and BMW too followed the same route and announced price hikes for their respective passenger vehicles.
With these price hike moves, prices of passenger vehicles in India are all set to increase from the very first day of 2024, as the OEMs have announced the new pricing will be effective from 1st January 2024.
Here is a comprehensive look at the automakers that have announced price hikes for their cars in India.
Maruti Suzuki has announced that its cars will become costlier from January 2024. India's biggest car manufacturer has announced that it will increase the prices of its cars from January 1, 2024. This will be the brand's second price hike in the current financial year. Previously, in April 2023, Maruti Suzuki increased the price of its cars by around 0.8 per cent across all models. However, it is not clear which Maruti Suzuki model will see what extent of the price hike. The carmaker has attributed the price hike to increased cost pressure driven by overall inflation and increased raw material prices.
Hyundai announced a price hike for its cars that will be effective from January 2024. This price hike has been attributed to the rising production costs due to inflation and higher prices of raw materials. The South Korean auto company which offers passenger vehicles priced between ₹5.84 lakh and ₹45.95 lakh (ex-showroom) in India, is yet to specify the exact percentage of the price increase.
Honda announced that its cars will be pricier from January 2024. The Japanese car manufacturer has not specified the model-wise amount of price increase yet. It said the model-wise price hike percentage will be finalised by the end of this month, while the introductory price applicable on its cars will be valid till December end and price will be revised from next month.
Tata Motors too announced price hike for its passenger vehicles that will be effective from January 2024. Tata Motors said that it will increase pricing of its entire range of passenger vehicles, including the electric cars from 1st January 2024. However, the homegrown auto manufacturer is yet to reveal the spectrum of price hike for different models.
Also check these Cars
1197.0 cc
Multiple
Mahindra announced that it will increase the pricing of its range of SUVs from next month. The homegrown SUv specialist has claimed that the price hike for its passenger vehicles has become necessary due to the increasing costs of production because of rising inflation and higher costs of raw materials. However, Mahindra is yet to reveal the model-wise price hike details.
German automaker Volkswagen is also going to increase the prices of its cars by up to two per cent, effective from 1st January 2024. Volkswagen has cited the rising input and material costs as the reasons behind this upcoming price hike. In India, the car giant retails three models: Virtus, Taigun, and Tiguan, all ranging between ₹11.48 lakh and ₹35.17 lakh (ex-showroom).
Volkswagen's sibling Skoda too has announced a price hike for its cars like Slavia, Kushaq and Kodiaq in India, effective from 1st January 2024. The Czech automaker has attributed this price hike to the rising inflation and higher raw material cost-induced increasing production and operational costs. This price hike means the most popular models of the brand including Slavia and Kushaq will be more expensive for the buyers.
German luxury car manufacturer automaker, BMW has announced that its cars in India will become expensive by up to two per cent from January 2024. The price hike will be effective across the entire range of the automaker including the new BMW i7 electric sedan. The automaker has blamed the fluctuations in exchange rates and rising input costs are the few major reasons for the price hike. The carmaker currently sells 21 models in India, including four EVs. BMW’s India range starts with the 2 Series Gran Coupe, priced at ₹43.50 lakh (ex-showroom) and goes up to the i7 electric sedan, priced up to ₹2.50 crore (ex-showroom).
Another German luxury automaker Audi is also set to increase the prices of all its cars, effective from January 2024. The automaker has attributed the price hike decision to the rising input and operational costs. In India, Audi retails a total of 15 models, including four EVs. The Audi A4 is the most affordable car from the brand in the market, priced at ₹43.85 lakh (ex-showroom), while the Audi RS Q8 is the carmaker’s flagship model in India, priced at ₹2.22 crore (ex-showroom).
Jeep India has announced that its popular model Compass will be costlier from next month. Effective from January 2024, Jeep Compass and Jeep Meridian will see a price hike by two per cent. Both the Jeep Meridian and Compass sit at the lower side of the American carmaker’s Indian line-up and the latter is the brand's bestseller in the country.
Mercedes-Benz is the leading luxury carmaker in India and it too is all set to hike the prices of its cars. Mercedes-Benz announced that it will raise the prices of select models in India from January 2024. The price hike applicable on select models of the brand will range up to two per cent. The company has claimed that this price hike will partially offset the high input costs as well as rising commodity prices and logistics expenditures. The carmaker revealed that the C-Class will cost ₹60,000 more from next month, while the GLS SUV will be costlier by around ₹2.6 lakh. On the other hand, customers will have to shell out ₹3.4 lakh more for the top-end imported Maybach S 680.
