Hero MotoCorp, Toyota Kirloskar Motor (TKM), BMW India, Mercedes-Benz India, Audi India and Tata Motors will increase prices across model range.
With the new financial year commencing on April 1, automakers like Hero MotoCorp, Toyota Kirloskar Motor (TKM), BMW India, Mercedes-Benz India, Audi India, and Tata Motors among others will realign and increase the prices across the model range. As per the officials, automakers are facing issues due to the rising input costs, including that of raw materials. Here’s a list of all the automakers hiking vehicles prices –
Two-wheeler major Hero MotoCorp on March 29 announced it will make an upward revision in the ex-showroom prices of its motorcycles and scooters, with effect from April 5.
According to the company, the upward revision has been necessitated to partially offset the impact of increasing commodity prices. “The price revision will be up to Rs 2,000 and the exact quantum of increase will be subject to the specific model and the market,” the company said in a statement.
Toyota Kirloskar Motor (TKM)
Toyota Kirloskar Motor (TKM) said it will realign the prices of its models, by up to 4 percent effective from April 1. The company said this hike has resulted due to the rising input cost, including that of raw materials.
“As a committed and customer-centric company, TKM has made all conscious efforts to minimize the impact of rising costs on consumers,” a TKM spokesperson has said in a statement.
Luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 percent across its model range effective from April 1. The price hike will be brought into effect to adjust the material and logistics costs, the impact of the current geopolitical situation, and exchange rates, the company had said.
Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in the price of its entire model range effective from April 1. As per Mercedes-Benz India, the imminent price correction would be in the range of 3 percent across the entire model range. It said that the constant increase in input prices in addition to an increase in logistics rates has been exerting significant pressure on the overall costs of the company.
The German luxury carmaker has announced that it is planning to increase the prices of its vehicles in India commencing April 1. The automaker said it will raise prices across its whole product line in India by up to 3 percent.
“The price hike is a result of rising input costs and will come into effect from April 1, 2022”, the automaker said in a statement.
Tata Motors on March 22 announced it will increase the prices of its commercial vehicles range by 2-2.5 percent, depending upon individual models and variants, starting April 1.
The rapid increase in the prices of commodities, such as steel, aluminum, and other precious metals — in addition to higher costs of other raw materials — has incited this price hike in commercial vehicles, Tata Motors said in a statement.
(With inputs from agencies)