GaadiWaadi –
From MG to Mercedes-Benz, multiple mainstream and luxury car brands have implemented or will soon roll out a price hike this month
As the new financial year begins, the first major development in the Indian car market is an industry-wide price hike. Multiple brands across mainstream and luxury segments have raised the prices of their cars this month.
Rising input costs, especially for fuel and gas due to the war in Iran, as well as the continued depreciation of the Indian rupee, are putting pressure on automakers to revise prices. Several companies have announced moderate price hikes to offset the rising costs.
Tata Motors increased the prices of its cars on average by 0.5% on 1 April, and this is likely the lowest hike across brands. The company has not disclosed the model-wise increments. On the same day as Tata Motors, JSW MG Motor increased the prices of the cars it sells through the normal dealerships by up to 2%. The Cyberster and M9 sold through the MG Select showrooms have been saved from this price hike.
Also Read: Mahindra Electric Origin SUVs Reach 50,000 Sales In Just A Year
Mahindra is set to increase the price of its ICE SUV and commercial vehicle range by 1.6% on average, with 2.5% being the maximum increment, from 6 April. The company expects to raise the prices of the recently launched XUV 7XO only after it has delivered the first 40,000 units at the introductory prices. It was initially delivering only the AX7, AX7T, and AX7L trims, and this month it will start deliveries of the AX, AX3, and AX5 trims.
Maruti Suzuki, the country’s largest carmaker, has warned of a price hike but has yet to announce one. Hyundai and Toyota Kirloskar Motor (TKM) have not made any announcements either, although some of TKM’s dealers have stated a 2% price hike effective 1 April on social media. German brands Skoda and Volkswagen also have yet to announce any revisions in pricing this month, but some of the latter’s dealerships have said on social media that there will be a price hike this month.
Also Read: Toyota To Launch Likely 4 New Cars By Next Year
Moving to luxury companies, BMW Group, which markets its cars under three brands: BMW, MINI, and Rolls-Royce, raised the price of its cars by up to 2% on 1 April. Audi also increased the prices of its cars by up to 2% on the first day of this month. Mercedes-Benz, the leading luxury car brand in our market, has confirmed that it will increase the prices of its cars by up to 2% this month, albeit without disclosing a specific date.
The post New Cars Become Dearer In April As Multiple Brands Roll Out Price Hikes appeared first on Gaadiwaadi.com – Latest Car & Bike News by Team GaadiWaadi.