New car, SUV prices to go up from January 2023
Almost all mainstream car, SUV manufacturers are hiking prices of their models due to multiple factors.
Kia, Maruti Suzuki, Tata, Mercedes-Benz and Audi have announced a price hike across their model range from January 2023. All carmakers have cited an increase in commodity prices as the major reason behind the hike.
Maruti Suzuki has confirmed that it will be increasing the prices of its entire model line-up, although the hike will vary depending on the model. Apart from the rise in commodity prices, Maruti Suzuki has said the price hike is also due to regulatory requirements from the government that have increased the cost pressure. Currently, Maruti Suzuki’s line-up includes the Alto, Alto K 10, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, Ignis, S-Presso, Swift, Wagon R and XL6.
Kia will hike the price of its entire model line-up by up to Rs 50,000 from January 2023. The South Korean manufacturer has also stated increasing commodity and transportation costs as the reason for the hike, which will be applicable to all bookings made after December 31. Currently, it has the Carens, Carnival, EV6, Seltos and Sonet in its portfolio.
Along with the rise in commodity prices, Tata also states that updating its vehicles to meet the upcoming RDE norms will also lead to a hike in prices. The manufacturer currently sells the Altroz, Harrier, Nexon, Nexon EV, Punch, Safari, Tiago, Tiago EV, Tigor and Tigor EV.
The German carmaker will hike the prices of its entire line-up by up to 1.7 percent, and, as others, has cited increasing input and operational costs as the reason for the hike. Its line-up currently includes the A4, A6, A8 L, Q3, Q5, Q7, Q8, S5 Sportback, RS 5 Sportback, RSQ8, e-tron, e-tron Sportback and e-tron GT.
Mercedes-Benz will also increase the prices of the products in its portfolio by 5 percent. It, like others, is also hiking the prices of its products to counter increasing input and logistics costs. Mercedes-Benz's portfolio currently includes the A-Class, A-Class hatchback, C-Class, E-Class, S-Class, EQB, EQC, EQS, GLA, GLB, GLC, GLC Coupe, GLE, GLE Coupe, GLS, G-Class and the two Mayback models of the GLS and S-Class.
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