Why are the cars of these companies going to be expensive?
The cars of most companies are going to be expensive from next month i.e. April. Amid rising production costs and rising operating expenses, major companies... maruti Suzuki, mahindra & mahindra, hyundai and others have announced to increase the prices of their vehicles from next month.
maruti Suzuki india (MSI), the largest company in the passenger car segment in the country, has announced to increase the prices of all its models by up to four percent from next month. The automobile giant sells various models in the indian market, from the entry-level Alto K-10 to the multi-purpose vehicle Invicto. Their prices range from Rs 4.23 lakh to Rs 29.22 lakh (ex-showroom Delhi), respectively.
What is the reason behind the price hike?
Maruti's main rival hyundai Motor india said it would increase the prices of its cars by up to three percent from april 2025 due to increased raw material and operating costs. Similarly, Tata Motors is going to increase the price of all its passenger vehicles including electric vehicles from April. Tata Motors has announced to increase the price of its vehicles for the second time this year.
mahindra & mahindra has said that it will increase the prices of its sports utility vehicles (SUVs) and commercial vehicles by up to three percent from April. Kia india, honda Cars india, Renault india and bmw have also announced an increase in the price of their vehicles from next month.
Deloitte partner and automotive sector leader Rajat Mahajan said that car manufacturers in india usually increase prices twice. One at the beginning of the calendar year and the other at the beginning of the financial year. He said, "The extent of the increase may vary, it may be related to currency fluctuations, where we need to spend more to import the same product, item or part."
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