Tata Motors, Honda mulling price hike from next month

With input costs continuing to rise, automakers like Tata Motors, Honda and Renault are looking to increase vehicle prices from January next year to offset the impact.

Already, car market leader Maruti Suzuki and luxury automakers Audi and Mercedes-Benz have announced to hike vehicle prices from next month.

While Maruti said the price rise planned for January 2022 will vary for different models, Mercedes-Benz said its hike will be on select models by up to 2 per cent due to feature enhancement and rising input costs.

On the other hand, Audi said its price increase effective January 1, 2022 will be up to 3 per cent across its entire model range owing to rising input and operational costs.

When contacted over the issue, Tata Motors President Passenger Vehicles Business Shailesh Chandra said:’ Prices of commodities, raw material and other input costs continue to rise. An appropriate price hike to at least partially offset this increase in costs seems inevitable in the near to short term.’ The company sells models like Punch, Nexon and Harrier in the domestic market.

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