Most car companies will raise prices in January 2023 because of rising costs of raw materials, RDE emission standards, and new safety standards. Car prices have gone up more than once in the last two years.
Most car companies have said that prices will go up in January, so it doesn’t look like 2023 will be any different. Some of the most important reasons are the rise in commodity prices and transportation costs, as well as the costs of meeting the new RDE (Real Driving Emissions) standards. From October 2023 on, cars will have to have six airbags, which will add to the cost.
Even though problems with the supply chain aren’t as bad as they used to be, commodity prices are still going up because of inflation. Car companies do try to deal with the effects of high commodity prices so that they don’t slow down sales. But in the end, some of the costs are passed on to the end users.
About Maruti, Tata, And Kia Price Hike
Maruti has said that prices will go up across the board beginning in January 2023. Price hikes will be different for each model. Maruti’s official note talks about how commodity prices are going up and how regulations are getting stricter. Because of these things, the company will have to raise prices in January 2023.
Maruti’s bestsellers include Alto, Alto K10, Ignis, WagonR, Celerio, S-Presso, Swift, Eeco, Dzire, Brezza, Ciaz, Ertiga, XL6, and Grand Vitara. In January, Tata will raise the prices of both ICE cars and EVs. The company has said that one of the main reasons for the price hike is that the cost of raw materials has gone up.
Tata has also talked about how much it will cost to meet the new RDE rules. For electric vehicles (EVs) like the Nexon EV, Tiago EV, and Tigor EV, the cost change is mainly because battery prices have gone up. As the world moves toward electric vehicles, battery prices will continue to go up until demand and supply are in balance.
Kia India has said that prices will go up by Rs 50,000 beginning in January 2023. Kia says that rising commodity prices and transportation costs are the main reasons for the price increase.
All Kia cars booked after December 31 will have their prices go up. Kia is the fifth biggest car company in India right now. It has a good range of options, including popular ones like Sonet, Seltos, and Carens. There are also Carnival and EV6.
Aboout Renault, Citroen, Jeep Price Hike
All three carmakers have linked the upcoming price hike primarily to a rise in input costs. Renault’s India portfolio comprises Kwid, Kiger, and Triber. In the case of Jeep, prices will be increased in the range of 2 to 4 percent.
Jeep India’s portfolio has Compass, Wrangler, Meridian, and the newly launched Grand Cherokee. Citroen has C3 and C5, which will witness a price hike in the range of 1.5 to 2 percent.
The following product from Citroen is expected to be the electric version of C3 that has been spotted on road tests. The launch is likely to take place at the 2023 Auto Expo. It will primarily rival Tata Tiago EV and the upcoming MG Air EV.
Audi, Mercedes-Benz Price Hike
Audi has attributed the price hike primarily to a rise in input and operational costs. The German carmaker will be increasing prices across the range by up to 1.7%. Audi’s India portfolio comprises 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 be increasing prices across the range by 5%. The reasons are the same as other carmakers have stated. Mercedes-Benz India portfolio has A-Class, A-Class hatchback, C-Class, E-Class, S-Class, EQB, EQC, EQS, GLA, GLB, GLC, GLC Coupe, GLE, GLE Coupe and GLS, G-Class. There are two Maybach models – GLS and S-Class.