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breaking news Tata Motors and Honda Reflect on Next Month’s Price Increase

As input costs continue to rise, automakers like Tata Motors, Honda and Renault are looking to raise vehicle prices starting in January to offset the impact. Car market leader Maruti Suzuki and luxury automakers Audi and Mercedes-Benz have already announced vehicle price increases starting next month.

While Maruti said the planned price increase for January 2022 will vary for different models, Mercedes-Benz said its increase will apply to select models by up to 2 percent due to improved features and increased costs of delivery. entry. On the other hand, Audi said that its price increase from January 1, 2022 will be up to 3 percent across its range.

When contacted by Tata Motors (passenger vehicle business) Chairman Shailesh Chandra, she said: “Prices of commodities, raw materials and other input costs continue to rise. An adequate price hike to compensate for the At least partially this increase in costs seems inevitable in the next few years. – in the short term. ” The company sells models such as the Punch, Nexon and Harrier in the domestic market.

Honda Cars India also stated that it is considering a price increase in the near future. “There is a severe impact on the cost of inputs due to the increase in raw material prices. We are still studying how much can be absorbed,” said a company spokesperson. The maker of brands such as City and Amaze had last raised vehicle prices in August this year.

Renault stated that it is also considering a “substantial” price increase on its entire range of vehicles from January. The French company sells models such as Kwid, Triber and Kiger on the Indian market.

Businesses have been forced to hike prices, with prices for essential commodities such as steel, aluminum, copper, plastic and precious metals increasing substantially over the past year. Additionally, the cost of transportation has increased in recent times, affecting the total cost structures of original equipment manufacturers (OEMs).



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