Several carmakers increase prices in India owing to a rise in input costs
The list includes Tata Motors, Toyota, Maruti Suzuki, Renault and Honda among others.
Unfortunately, thanks to the increase in input costs and commodity costs like steel, aluminum, and precious metals, some of which are at an all-time high, the cost of manufacturing has been sharply affected by the same, and hence, car manufacturers like Tata Motors, Toyota, Maruti Suzuki, Honda, MG, all have increased prices of their models to a certain extent.
With effective from this month, Tata Motors have confirmed that they will be increasing prices of its passenger vehicles in India by 0.8% on an average, depending upon the variant and model. This happens to be the third price hike for Tata as it increased prices of its vehicles by 1.8% in May and in January, prices were raised by INR 26,000.
On Toyota‘s side of things, the company first hiked prices of the Innova Crysta, Fortuner, and Camry Hybrid by INR 26k, INR 72k, and INR 1.18L, respectively, back in April this year. It then increased prices of the Glanza and Urban Cruiser in May by INR 34k and INR 12,500k, respectively. Lastly, the Japanese marque has again announced the increase in prices of the Crysta by another 2%.
Honda Cars India also joined the forces when it revealed that it will increase the prices of all its models starting from August 1, 2021. Similarly, Maruti Suzuki too hiked prices of the Swift and its S-CNG models by up to INR 15,000.
The remaining names on the list include the likes of Renault Kiger (up to INR 30k dearer to the buyers from May 2021), MG Gloster (dearer by around INR 50-80k depending on the variant). Similarly, MG had already increased the prices of the Hector twins in April this year by up to INR 43k. Volvo too didn’t hold back as it announced that there will be an INR 1-2L increase in figures for the S90, XC40, XC60, and XC90 SUVs, with another price hike already in the works.
Perhaps, the biggest surprise of them all was the Mahindra Thar price hike just last month when the homegrown carmaker announced it will increase the prices of the all-new Thar by up to INR 92,000! However, once again, the rise in input costs was the sole reason behind this.
