Today or never? Last day to book your car as prices set to increase from January 1

If you have been hunting for the best deals on new cars, today ought to be the day you sign on the dotted line. And there are two big reasons for it. With December deals coming to a close on the final day of the month and prices of almost all car models in India set to increase from January 1, your wallet will surely thank you for getting that sweet discount.

If you are sure that you need a new car urgently, now will be the best time to pay the reservation amount and book your new set of wheels. Dealers across the country and across most brands have been offering special year-end deals and discounts to clear existing inventories. And unlike previous years, this year has seen inventory levels on the higher side which means snaring a great deal should be a whole lot easier. While there are offers from the brands as well, almost all of these expire as the world welcomes the new year.

Interestingly, major car brands - both in the mass market as well as in the luxury space - have announced priced hikes that come into effect from January 1. These price hikes will be in the range of two per cent to six per cent and will add to the eventual price that you pay for your new car. But that is from Wednesday onwards.

• Honda Cars India has confirmed a price hike that would be applicable on all its models - Amaze, Elevate and City. The price hike will be up to two per cent, depending on the model and corresponding variant.
• Skoda Auto India has blamed rising input and operational costs as reasons for hiking prices of its Slavia, Kushaq and Kodiaq from January 1, by up to three per cent.
• Jeep and Citroen models in the country will get more expensive by up to two per cent. Both brands come under the Stellantis umbrella worldwide.
• Kia India cars will become dearer too with the likes of Sonet, Seltos, Carens, Carnival and EV6 getting a revised pricing structure from January 1. Also remember, bookings for the just-revealed Syros opens from January 3.

Also watch: Kia Syros SUV breaks cover | Bookings, price launch, delivery dates revealed | First look

• Fancy a Tata car? Well, the entire range of Tata Motors in the country will see an upward price revision. This will impact pricing of both internal combustion engine (ICE) models as well as EVs.
• Mahindra SUVs will become costlier too with the likes of Thar, XUV700, Scorpio-N, among others, drilling a slightly larger hole in your pocket from January 1 onwards. The price hike would be up to three per cent.
• JSW MG Motor too has announced that it will hike prices of all its car models by up to three per cent from the first day of the new year.
• Hyundai Motor India has also confirmed its car models will get costlier from January 1 onwards. This will cover its ICE as well as EV range.
• Maruti Suzuki, the country's largest carmaker, has announced a price hike across its models by up to four per cent.
• The three major luxury car brands from Germany - Mercedes-Benz, BMW and Audi - will also hike prices of their respective models. Each of the three have blamed rising input and operational costs as the reasons for it.

Check out Upcoming Cars in India 2024, Best SUVs in India.