The new financial year begins: Car prices witness a hike
The new financial year begins: Car prices witness a hike
April 1, 2024, marks the beginning of the new fiscal year. With the beginning of the FY, companies make major decisions. Currently, the majority of the prominent car companies have decided to raise the prices of their best-selling cars, especially multi-purpose vehicles( MPVs), and sport utility vehicles (SUVs).
Many of them have already announced their change in prices, and few of them will do so in due course. Car makers say that they are increasing the prices of their vehicles due to an increase in input costs. Read below to know more about which companies have announced and to what rate:
Also Read: Honda Raises Prices Across Entire Product Lineup in India, Introduces Safety and Feature Updates
If you are planning to buy a KIA car, it must be noted that Kia will now cost 3% more in India, starting from April 1 which means you'll have to shell out a bit more while considering Kia as your option.
Kirloskar has already increased its prices twice this year. The first time was in January and now Toyota Kirloskar is also raising prices, but by a smaller margin of 1%.
For those planning to buy a TATA car, it is important to note that the cost of commercial vehicles has increased by 2% due to an increase in input costs.
At last, Honda Cars India will also raise the prices of its entry-level compact sedan Amaze by up to Rs 12,000 to offset the impact of an increase in production costs owing to the upcoming stricter emission norms starting in April.
Following the announcement, Honda Cars India Vice President of Marketing & Sales Kunal Behl stated, “We will increase Amaze prices by up to Rs 12,000 with effect from April 1 to factor in the rise in production costs due to the upcoming stringent emission norms.”
It is observable that The Indian auto sector is undergoing all of these modifications to keep up with the more stringent BSVI emission regulations which suggests that both manufacturers and consumers may soon need to make more adjustments.
Also Read: 1. Streamer IShowSpeed buys A Lamborghini Huracan With a Special Cristiano Ronaldo Livery 2. Here’s why you should consider buying a car this April. 3. Which Indian Cars are UNSAFE to drive?