Amid a constant increase in input costs and overall inflation, major automakers have announced that they will be increasing the price of vehicles in India starting January 2023.
From India’s largest carmaker, Maruti Suzuki to luxury automaker, Mercedes-Benz have announced that they will hike the prices of its models from January 2023 and that the increase will vary for different models.
While Maruti stated that recent regulatory requirements and inflation are the reasons behind why it announced the hike for different models, Mercedes-Benz said a constant increase in input costs and increased logistics costs have been exerting significant pressure on the overall operational costs of the company.
Other than this, companies like Honda, Tata Motors, Hyundai, Mercedes-Benz, Audi, Renault, Kia India and MG Motor have also made the year-end announcements to hike prices from Janurary 1st.