Tata Motors, Kia, Maruti Suzuki, Mercedes-Benz, and Audi have announced a price hike across their model range from January 2023. The reason behind this hike, according to the companies, is increased cost pressure driven by overall inflation and recent regulatory requirements. However, Hyundai Motor India and Honda Cars said they have not yet taken a call on the matter.
Kia India
Kia India has announced a price increase for its entire range of models sold in the country. The price hike of Rs 50,000 will come into effect from January 1, 2023. Currently, it has the Carens, Carnival, EV6, Seltos, and Sonet in its portfolio. In November 2022, the total sales figure of Kia cars was 24,025 units. This included sales of Seltos (9284), Sonet (7834), Carens (6360), Carnival (419), and EV6 (128).
Maruti Suzuki India
India’s largest carmaker Maruti Suzuki India Limited (MSIL) on November 2 said that it will hike the prices of its models from January 2023 and that the increase will vary for different models.
“The Company continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes the maximum effort to reduce costs and partially offset the increase, it has become imperative to pass on some of the impacts through a price increase. The Company has planned this price increase in January 2023 which shall vary across models,” the company officials said.
Currently, Maruti Suzuki’s line-up includes the Alto, Alto K10, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, Ignis, S-Presso, Swift, Wagon R, and XL6.
Tata Motors
Tata Motors has already increased the price of its vehicles starting from November 7th, 2022. On average, prices of the company’s vehicles will go up by 0.9%, depending on the variant and model selected. The move comes with the manufacturer needing to absorb a major chunk of costs due to rising input prices. The manufacturer currently sells the Altroz, Harrier, Nexon, Nexon EV, Punch, Safari, Tiago, Tiago EV, Tigor, and Tigor EV.
Audi
Audi India announced, it will hike the prices of its entire line-up by up to 1.7 percent. The new prices will be effective from January 1st, 2023. “The primary objective of Audi India’s business strategy focuses on a model that begets profitability and sustainability. The price correction is affected as a result of the rising supply-chain-related input and operational costs. The new price range for our models is directed at maintaining the premium price positioning of our brand, ensuring sustainable growth for Audi India and our dealer partners,” Audi India Head, Balbir Singh Dhillon said.
Audi’s line-up currently includes the A4, A6, A8 L, Q3, Q5, Q7, Q8, S5 Sportback, RS 5 Sportback, RSQ8, e-tron, e-tron Sportback and e-tron GT.
Mercedes-Benz
Mercedes-Benz is also increasing the prices of the products in its portfolio by 5 percent. It, like others, is also hiking prices to counter increasing input and logistics costs. Mercedes-Benz’s portfolio currently includes the A-class, A-class hatchback, C-class, E-class, S-class, EQB, EQS, EQC, GLA, GLB, GLC, GLC Coupe, GLE, GLE Coupe, GLS, G-class, and the two Maybach models- GLS and S-class.
