KEY HIGHLIGHTS
- Automotive brands, including Tata Motors, Maruti Suzuki, Mahindra, and Audi, announce price hikes for 2024
- Audi opts for a uniform 2 per cent increase across its diverse model lineup
- Maruti Suzuki attributes the rise to production costs, with varying increases across models
- Tata Motors announces plans to increase prices for passenger vehicles, including its EV range
As 2023 wraps up, it seems the start of 2024 will bring higher car prices. Reports say Tata Motors, Maruti Suzuki, Mahindra, and Audi plan to hike prices from January 1, 2024, citing the rise in things like steel costs. It's a heads-up for changes in the car market, and it makes you think about how these factors impact our choices on the road.
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Audi, Tata, and More Set for New Vehicle Cost Adjustments Starting January 2024
Check out the table below for a quick overview of which carmakers and vehicles are slated for a price hike next year.
| Car Maker | Models | Price Hike Percentage |
|---|---|---|
| Audi | A4, A6, A8 L, Q3, Q3 Sportback, Q5, Q7, Q8, S5 Sportback, Q8 e-tron, Q8 Sportback e-tron, e-tron GT | 2% |
| Maruti Suzuki | Alto, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, Ignis, S Presso, Swift, Wagon R, XL6, Fronx, Invicto, Jimny | Varies by model |
| Mahindra | XUV300, XUV700, Bolero, Bolero Neo, Scorpio N, Scorpio Classic, Marazzo, Thar, XUV400 EV | To be announced |
| Tata Motors | Altroz, Harrier, Nexon, Nexon EV, Punch, Safari, Tiago, Tiago EV, Tigor, Tigor EV | To be announced |
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Audi is implementing a uniform 2 per cent price increase across its model lineup. Maruti Suzuki attributes rising production costs to its price bump, varying across models. Meanwhile, Mahindra plans a vehicle price hike in January 2024 due to inflation and commodity costs, with specifics coming later. Tata Motors, too, plans to raise prices for passenger vehicles, including its EV range, with details to be announced soon.
Verdict
The upcoming price hikes reflect the broader economic challenges in the automotive sector. While necessary for companies facing increased production and commodity costs, it may impact consumers' purchasing decisions. The diversity of models across brands underscores the widespread impact of these adjustments in the automotive market. Stay up to date with all the automotive news and updates by joining our 91Wheels Whatsapp Group today!
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