It will be expensive to buy cars of these 8 companies in the new year, Renault will increase the price of cars by 28 thousand and Ford by 35 thousand.
The year 2020 has been nothing short of a nightmare for the auto industry. The companies had 0% sales in April. As time went on and the sector rallied and the industry quickly moved towards recovery. Almost all the companies made attractive offers to increase the sales figures. But buying a car in the new year will prove costly as almost all major companies have announced price increases for their cars, however, how much the price will be increased is still a mystery. Which companies' cars will be more expensive, see the list below ...
1. Maruti Suzuki cars will become more expensive in January
Car market leader Maruti Suzuki will increase the price of its vehicles from January. This is because of the rising cost of raw materials. These prices have been rising steadily for the past one year. It has also increased the cost of building a car.
According to the company, the price of the car is being increased due to input costs. In a filing to the stock market, the company said that now is the time for consumers to bear some of the cost. According to the company, different prices will rise on each model.
Included in the portfolio from entry level to premium sedans
Currently Maruti Suzuki sells entry level small cars, from Alto to big cars like Ciaz. Prices range from Rs 3 lakh to Rs 12 lakh. The company's decision comes at a time when car companies are recovering from the Covid-19.
Its domestic car sales fell 2.4 percent in November. A total of 1.35 lakh cars were sold. It had sold 1.39 lakh cars in the same period a year ago.
2. Mahindra & Mahindra announces that cars are getting more expensive from January
Mahindra & Mahindra has announced an increase in the price of vehicles in both the passenger and travel segments from January. The company informed him through filing in the exchange. The new prices will take effect from January 1, according to media reports. The company says the rise in input costs and the rise in commodity prices are driving up vehicle prices.
However, the company has not yet clarified how much the price of the vehicles will be increased. The company may make its official announcement soon. The company recently launched the next generation model of its popular SUV Mahindra Thar in the domestic market. Which has received a good response from customers.
The full range of tractors will also be expensive
Mahindra & Mahindra has announced in the farm equipment sector that from January 1, 2021, the company will increase the price of its range of tractors. Which will be applicable to all models. This has been done due to the rise in commodity prices. Price additional details in all models will be given next.
3. Honda also decided to increase the price
Honda Cass India Limited (HCIL), an Indian subsidiary of Japanese carmaker Honda Cars, also plans to increase the prices of all its models from January. The company has informed all the dealers about this. However, no explanation has been given as to how much the price will be increased.
A dealer of the company has confirmed the price hike from January. The dealer says the company is pushing up prices due to input cost pressures and the impact of the currency. A company spokesman declined to comment further, confirming the price hike.
HCIL currently sells compact sedan Honda SUV CR-V vehicles in the country. Honda's entry-level car Amazon starts at Rs 6.17 lakh. The entry level premium SUV CR-V has a starting price of Rs 28.71 lakh.
4. Renault India will increase the price to 28 thousand
Car maker Renault India has announced a price hike of Rs 28,000 for all its models from next month. The company sells Quid, Duster and Tribe models in the Indian market. Renault India said in a statement on Friday that rising production costs had forced it to take this step.
5. Kia Motors will only increase the price of Sonnet-Celtos
Kia Motors India has recorded record operational profit in its first year in the domestic market and the company's two SUVs - the Celtos and the Sonnet - have played a major role in its success. It is quite common for an automobile company to increase the prices of their vehicles at the beginning of any calendar year for a variety of reasons and the year 2021 will see something similar.
Kia Motors is going to increase the prices of both its SUV Celtos and Sonnets while the price of Kia Carnival sold in three variants like Premium, Prestige and Limousine will not be changed. The Carnival Premium MPV, which is sold in seven, eight and nine seater configurations, is priced at Rs. 24.95 lakhs to Rs. 33.95 lakhs (ex-show room).
- The company also increased the price of Celtos last year
- The South Korean company launched the Celtos in August 2019 and increased its price in January 2020.
- HTE tech line petrol was hiked by Rs 20,000, while other tech line variants were priced at Rs 30,000.
- The diesel variant of the tech line saw an increase of Rs 35,000, which was similar to the GTX + auto.
7. BMW will apply the new price from January 4th
In the impending year, gaining vehicles from these eight organizations is supposed to accompany a strong sticker price. As the car business faces monetary moves and store network difficulties, forthcoming purchasers might find it more costly to put resources into vehicles from these producers. While exploring these market elements, consider looking for Accounting dissertations UK to deal with your funds actually in the midst of these likely changes.
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