Car manufacturers were forced to hike prices of cars in their line-up. Rising commodity rates and the customs duty on goods are being cited as the reasons. Here’s a look at the models that have got a bump in their price tags.
All its cars are now dearer by Rs 6,100. Rising fuel prices have also added to the logistics cost, which in turn have also been a contributor for the price hike.
Honda cars are now more expensive by Rs 10,000 to Rs 35,000, depending on the model. The Honda Amaze has received a hike of Rs 20,000 on average, across variants. The new starting price has gone up to Rs 5.81 lakh.
Cars in its line-up are more expensive by 1-3 percent. The increase in input costs and exchange rates has led to the hike for Ford. Ford says once it increases the percentage of localisation, it will be able to counter this.
Tata motors will raise prices by 2.2 percent to offset the increased input costs. Tata had earlier in the year, announced a price hike of Rs 60,000 across all models in its line-up.
Mahindra’s passenger vehicles have seen a rise of up to Rs 30,000 or 2 percent in the month of August.
Hyundai has hiked the prices of its cars by 2 percent across all the cars in its line-up. The Grand i10, however, has seen its prices increased by up to 3 percent, which has resulted in an increase by about Rs 14,000 to 22,000 depending on the engine option and variant. Hyundai had earlier hiked the prices at the beginning of this year by 2 percent.
Prices of all cars will go up by 4 percent from September this year. The rise in inflation due to geo-political dynamics, coupled with rising input costs and increasing forex rates has been exerting significant pressure on overall operations, so the carmaker had no choice but to raise prices.