New Delhi: With input costs continue to rise, car makers such as Tata Motors, Honda and Renault want to increase vehicle prices from January next year to compensate for their impact.
Already, the leader of the Maruti Suzuki car market and Audi and Mercedes-Benz luxury car maker has announced to increase vehicle prices from next month.
While Maruti said the increase in prices planned for January 2022 would vary for different models, Mercedes-Benz said the increase would be in certain models by 2 percent due to increased features and rising costs.
On the other hand, Audi said the price increase was effective January 1, 2022 will reach 3 percent throughout the range of the model due to increasing input and operational costs.
When contacted from the problem, Tata Motors President Vehicle Passenger Shailesh Chandra said: “The price of commodities, raw materials and other input costs continue to increase.
The appropriate price increase for at least offset this increase in costs seems unavoidable in the near future.” The company sells models such as Punch, Nexon and Harrier in the domestic market.
The Honda India also stated that it considered a price increase in the near future.
“There is a severe impact on input costs because of the increase in commodity prices.
We are still learning how much can be absorbed,” said a company spokesman.
Brand makers like City and the last Amaze climbed the price of vehicles in August this year.
Renault stated that it also saw a “substantial” price increase in the range of vehicles starting in January.
France companies sell models such as Kwid, Trible and Kiger on the Indian market.
Companies have been forced to take price increases, with a large increase in essential commodity prices such as steel, aluminum, copper, plastic and precious metals for the past year.
In addition, transportation costs have increased in several times affecting the total cost structure of the original equipment manufacturer (OEM).