Automakers Indicate Price Hike from January 2024

Leading Indian Automakers Likely to Increase Vehicle Prices in New Year

Major Indian automakers, including Maruti Suzuki, Tata, Mahindra, and Audi, are all set to hike prices from January 1, 2024, amidst rising input costs and steel demand.

JAMSHEDPUR – In response to the escalating costs of production and high demand for steel, prominent automobile manufacturers in India have indicated an imminent price hike for their vehicle models starting January 1, 2024.

Tata Motors, known for its extensive range of passenger vehicles, is preparing to adjust its pricing structure.

The company’s current portfolio includes popular models such as the Altroz, Harrier, Nexon, Nexon EV, Punch, Safari, Tiago, Tiago EV, Tigor, and the Tigor EV.

Further details regarding the extent of the price increase, particularly for its electric vehicle (EV) lineup, are anticipated shortly.

Mahindra, another major player in the Indian automotive market, has acknowledged the necessity to revise its pricing in the wake of escalating inflation and commodity costs.

Its current offerings include the XUV300, XUV700, Bolero, Bolero Neo, Scorpio N, Scorpio Classic, Marazzo, Thar, and the XUV400 EV.

Maruti Suzuki, a leader in the Indian auto market, is adjusting its prices across its diverse model range due to rising production expenses.

The company’s lineup includes the Alto, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, Ignis, S Presso, Swift, Waggon R, XL6, Fronx, Invicto, and Jimny.

Audi, the German luxury automaker, has announced a uniform 2 percent increase across its model range, attributing this to heightened input costs.

According to sources in the know, its range in India comprises the A4, A6, and A8 L sedans, the Q3, Q3 Sportback, the Q5, Q7, and Q8 SUVs, the S5 Sportback sportscar, and electric vehicles like the Q8 e-tron, Q8 Sportback e-tron, and the e-tron GT.