If you’re planning to bring home a new car in 2023, get ready to shell out extra money. With the raw materials prices heading north and the persisting global supply chain restraints, a host of automakers in India including Tata Motors, Maruti Suzuki, Hyundai, Honda, Kia, and Audi have announced price hikes across their product portfolio lately.
Here, we take a quick look at the companies whose passenger vehicles are going to get costlier come the next year.
Maruti Suzuki
The country’s largest carmaker has announced a price hike on its entire range and has attributed the same to regulatory requirements from the government, which has further the already-mounted cost pressure due to expensive raw materials. However, the hike will vary depending on the model.
At present, the company’s PV portfolio includes the Ignis, S-Presso, Swift, Wagon R, Alto, Alto K10, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, and XL6.
Kia
The South Korean manufacturer has announced a price hike of Rs 50,000 across its portfolio. The company named increasing raw material and logistics costs for the price hike.
Post 31 December 2022, bookings made for all Kia vehicles – Carens, Carnival, Seltos, Sonet, and EV6 will be applicable for the increased prices.
Tata Motors
Tata Motors has also announced a range-wide price hike and has stated that upgrades made to its vehicle in lieu of the new RDE norms has resulted in a surge in the manufacturing costs.
At present, the carmaker sells the Tigor, Tigor EV, Tiago, Tiago EV, Punch, Altroz, Safari, Harrier, Nexon, and Nexon EV.
Hyundai
The country’s second-largest carmaker has also announced price hikes but hasn’t disclosed the hiked amount yet. The company’s line-up in India includes Venue, Verna, Creta, Alcazar, Tucson, Kona EV, Aura, i20, and Grand i10 Nios.
Honda
The Japanese carmaker has announced that its cars will get costlier by Rs 30,000 across the entire range. At present, the company offers Amaze, City (4th-gen), City (5th-gen), WR-V, and Jazz.
Others
Citroen has announced that its C3 and C5 SUVs will get costlier by 1.5 to 2 percent come January 2023.
MG Motors has announced a price hike of Rs 90,000 across its product portfolio while Jeep SUVs will get costlier by 2 to 4 percent. Volkswagen and Renault have also announced hikes but haven’t disclosed by how much.
Luxury carmakers Audi and Mercedes-Benz have announced a price hike of 1.7 percent and 5 percent, respectively.
