Car prices to increase in India from April: Details here
To reduce the impact of rising input costs including raw materials, several carmakers in India, including BMW, Tata Motors, Toyota, and Mercedes-Benz, have decided to raise the prices of their models. The new prices will come into effect from April 1 and the four-wheelers will become costlier by up to 4%. Hikes are imperative in the industry and are done every couple of months.
Why does this story matter?
The auto industry is slowly rebuilding following market fluctuations due to the COVID-19 induced lockdowns and prices of raw materials are also on the rise. As such, it becomes necessary for carmakers to raise the costs of their products so that the businesses can remain profitable. Customers also keep such hikes in mind and make purchases accordingly, thereby increasing competition in the sector.
Toyota cars will be costlier by 4%
In India, Toyota Kirloskar Motor has decided to raise the prices of its entire car range by up to 4% from April 1 onward. The brand claims that it has made efforts to lower the impact of rising prices on buyers. The company's line-up includes models such as the Fortuner, Innova Crysta, Glanza, Camry, and the Urban Cruiser.
Tata Motors will raise prices by up to 2.5%
Homegrown automaker Tata Motors has also announced that the prices of its commercial vehicle range in India will go up starting April 1. The vehicles will become 2-2.5% more expensive, based on the model and variant.
A 3% hike will be levied on Mercedes-Benz cars
Mercedes-Benz cars will become 3% costlier, and the hike will be in the range of Rs. 50,000 to Rs. 5 lakh. The A 200 Limousine will begin at Rs. 42 lakh; GLS 400d 4M from Rs. 1.16 crore; and AMG E 63 S 4MATIC and AMG GT 63 S 4 Door Coupe from Rs. 1.77 crore and Rs. 2.7 crore, respectively (all prices, ex-showroom).
BMW will increase costs by 3.5% in India
The BMW model range in India will be up to 3.5% more expensive effective April 1, 2022. The brand has a large range of locally produced cars, including the 2 Series Gran Coupe, MINI Countryman, BMW 7 Series, BMW M 340i, BMW 5 Series, BMW 3 Series, BMW 3 Series Gran Limousine, BMW X7, BMW 6 Series Gran Turismo, BMW X1, and BMW X3.
