Sun. Oct 2nd, 2022
Automobile Manufacturers To Hike Price Rates From New Financial Year; Check List Here!

Check here the list of automobile companies that have decided to increase the prices of their products to combat the inflation in commodities due to Russia-Ukraine war, chip shortage and supply chain disruptions.

1. Hero MotoCorp

Hero MotoCorp LogoDelhi-based Indian multinational motorcycle and scooter manufacturer Hero MotoCorp has decided to increase the prices of its two-wheelers by up to Rs 2,000 from April 5. The revision in prices is done to partially offset the adversity of a hike in commodity prices.The company will increase the ex-showroom prices of its entire product range. The price hike will be up to Rs 2,000, and the exact quantum of increase will vary according to the specific models and the market.

2.Toyota Kirloskar Motor

Toyota
Toyota Kirloskar Motor will be hiking the prices of all its cars with effect from April 1, 2022. The hike can range up to 4 percent across Toyota’s India product line. According to the Indian subsidiary of the Japanese car manufacturer, the rising input cost is forcing the company to take such a step. 
Toyota India, in an official statement, said, “Toyota Kirloskar Motor (TKM) today announced that the company will realign the prices of its models, by up to 4% effective from 1st April 2022. This hike has resulted due to the rising input cost, including that of raw materials. As a committed & customer-centric company, TKM has made all conscious efforts to minimize the impact of rising costs on consumers.”

 

3. BMW India

 

 

 

BMW India

Luxury carmaker BMW India announced to increase prices of its entire model range by up to 3.5 percent w.e.f April 1 to withstand the adverse impact of rising input costs. With the increase in prices of the material and logistics, the turmoiled geopolitical situation, and exchange rates, the German automaker has taken this decision.

 

4. Mercedes-Benz India

Mercedes-Benz India

Mercedes-Benz India,  a wholly owned subsidiary of the German automobile company Mercedes-Benz Group, is likely to increase 3 percent prices across its entire model range from April 1, 2022. The constant increase in input costs along with soaring logistics expenses have hampered the overall costs, leaving the company with a single option- to pass on the additional expenses to the end-user. 

Martin Schwenk, managing director, and CEO, of Mercedes-Benz India, said, “To run a sustainable business a price correction is necessary to offset the continuous rise in input and operational costs. The new price range of our vehicles will ensure the brand’s premium price positioning, enabling the seamless continuation of best-in-segment ownership experiences for our discerning customers.”

After the revision, the new prices of the company’s model range would be:

  • 200 limousine: Rs 42 lakh
  • GLA 200: Rs 45 lakh
  • GLC 200: Rs 62 lakh
  • GLE 300d 4M: Rs 86 lakh
  • GLS 400d 4M: Rs 1.16 crore
  • LWB E Class 200: Rs 71 lakh
  • S Class 350d : Rs 1.60 crore
  • AMG E63 S4MATIC (CBU): Rs 1.77 crore 
  • AMG GT 63 S 4 Door Coupe (CBU): Rs 2.70 crore.

 

5. Audi
Audi -- Automobile Companies

Audi, similar to what other automobile companies have announced, has decided to hike the prices by 3% across its entire line-up, owing to the increase in the input cost. Audi, in January, had already increased the price by 3%. Audi offerings in India include the A4, A6, A8, Q5, e-trot, among others.

 

 

By Harshita Sharma

I bring to you startup, stock market, economy, and business news. So, stay tuned!

Leave a Reply

Your email address will not be published.