German luxury car maker Audi has announced to increase the prices of its vehicles in India by two percent from January next year, citing increasing demand for raw materials and operating costs. Mercedes-Benz India also said it is considering a price increase from January.
The company has given a shock to those who buy Tata cars. The company has announced a 3 percent increase in the prices of all its commercial vehicles from January 1, 2024. That means the prices of Tata’s Nexon to Tiago will increase. The company gave this information on Sunday. The company said in a statement that the decision to increase the prices of commercial vehicles has been taken to reduce the impact of increasing production costs.
These companies will also increase the price
Tata Motors said that this price increase will be applicable on all commercial vehicles. Before this, passenger vehicle manufacturing companies like Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda and Audi have also announced plans to increase the prices of their vehicles from January. Companies have cited various reasons for this, including cost pressures from inflation and increased equipment prices. Maruti Suzuki India (MSI), the country’s largest carmaker, sells a range of vehicles from the low-cost small car Alto to the multi-utility vehicle Invicto.
For this reason companies are increasing prices
Nalinikant Golagunta, chief executive officer (CEO) of Mahindra & Mahindra’s automobile division, said, “We plan to increase prices for our automobile products with effect from January 2024, depending on the outlook for inflation and commodity prices.” He said in a statement that a detailed announcement in this regard will be made in due course. Meanwhile, Tata Motors said it is considering raising prices of its passenger and electric vehicles in January, 2024. Tata Motors’ vehicles include hatchback car Tiago to SUV (Sports Utility Vehicle) Safari. Their price ranges between Rs 5.6 lakh to Rs 25.94 lakh. However, the company did not say how much the prices of vehicles would be increased.
