After Maruti Suzuki, Hyundai and Tata Motors, now Honda Cars India has also announced to increase the prices of its cars. The company's vice-president marketing Kunal Bahl said that the price of Honda cars will increase by 2%. The new prices will come into effect from January 2025.
Bahl said, “The company is making continuous efforts to ensure that the cost increase does not affect the customers”. He said, 'The price of the recently launched third generation Amaze will be reviewed in mid-January.'
Companies are raising prices due to rising manufacturing costs Earlier, other automobile companies like Maruti Suzuki, Hyundai Motor India, Mahindra & Mahindra, Mercedes Benz, BMW and Audi have also announced to increase the prices of their vehicles from January 2025. All automobile companies have given almost the same reason for raising prices. Companies are taking this decision due to increase in overall manufacturing cost due to increase in input cost and logistics.
Every year in December, companies increase the price of cars
Tata vehicles will be 3% more expensive Tata Motors will increase the prices of its passenger vehicles by up to 3% from next month. It includes petrol, diesel and electric models. The company said in a statement that it is going to increase the prices of the vehicles to partly offset the impact of rising raw material costs and inflation. The new prices will be applicable from January 2025 and the increase will vary depending on the model and its version.
Tata Motors' current model lineup includes Tiago and Altroz in the hatchback segment, Tigor in the compact sedan segment, Punch in the micro SUV segment, Tata Nexon in the compact SUV segment, Harrier and Safari in the premium SUV segment. Additionally, the brand has the Tata Curve, an SUV coupe, which was recently launched in the country.
In the electric vehicle category, the company has Curve EV, Punch EV, Nexon EV, Tiago EV and Tigor EV. The company is currently gearing up to launch the Sierra EV.
JSW MG Motors India will increase prices by 3% JSW MG Motor India will increase the prices of all its models by up to 3% from January. The company said the price increase is due to the ever-increasing cost of auto-parts, exchange rate impact and increase in logistics costs.
Kia cars will be 2% more expensive Leading premium car maker Kia India has announced a 2% increase in the prices of all its models. The new rates will be effective from January 1, 2025. The company said the price hike is due to rising commodity prices and rising supply-chain costs.
The price of Hyundai cars will increase by Rs 25,000 Hyundai Motor India Limited (HMIL) has increased the prices of all its models by Rs. 25,000 has been announced. The new prices will be effective from January 1. Another reason for the increase in prices is the increase in input costs. HMIL said in a statement that the price hike will be on a variant-wise basis across all models and will be increased by a maximum of Rs 25,000.
Maruti Suzuki cars 4% more expensive Maruti Suzuki said the price of the car will be hiked from January 2025 due to rising raw material costs and operational costs. The price increase will be up to 4% and will vary depending on the model. Although the company continuously strives to optimize costs and minimize the impact on its customers, some of the increased costs may have to be passed on to the market.
Mahindra & Mahindra vehicles will also be 3% more expensive The company will increase the prices of the entire range of sports utility vehicles (SUV) and commercial vehicles (CV) in its portfolio by up to 3%. Mahindra & Mahindra said in an exchange filing on Friday (Dec 6) that the increased rates on the vehicles will come into effect from the beginning of January 2025. The company has taken this decision due to rising costs due to inflation and rise in commodity prices.
2 reasons for price increase every year
- Car makers cited costlier components, input costs and increase in company operating costs as the main reasons for implementing the price hike from January. However, industry experts say that auto companies announce price hikes even in December so that people buy vehicles before the New Year. Otherwise, customers postpone buying a car for fear of price hike in the new year.
- Apart from this, companies also have to clear last year's manufacturing stock. If customers don't buy the vehicle in the last month of the year, the vehicle production in the new year looks a year old. That's why companies also give more offers on cars. This trend is mostly observed at the end of the year and the end of the financial year. Maruti's car prices hiked the highest by 4% Company Price Increase Maruti Suzuki 4% Tata Motors 3% Mahindra 3% Kia 2% JSW MG Motors 3% Mercedes Benz 3% BMW 3% Audi 3% Skoda 3% Jeep 2% Citroen 2% Honda Cars 2% Hyundai Models up to ₹25,000 until
Image Credit: (Divya-Bhaskar): Images/graphics belong to (Divya-Bhaskar).
