Car Price Hikes: If you are planning to buy a car, then wait a bit first. Know what is the price of the car you are planning to buy? The reason is that many car manufacturing companies have increased the prices of their SUVs (Sports Utility Vehicles) and MPVs (Multi Purpose Vehicles) with the start of the financial year 2024-25 from April 1, 2024. Although some companies have not announced it yet, it is likely that they will also increase car prices in the coming days. At present, Toyota, Kia and Honda have increased the prices of cars from today. Cars of these companies may become costlier by 1 to 3 percent.
Kia cars costlier by 3 percent
According to media reports, Kia cars have become expensive by 1 percent. The report says that Kia Motors cars will become expensive by 3 percent. The company has said that the prices of all cars sold in India will increase by 3 percent from April 1, 2023.
Toyota increased prices by 1 percent
On the other hand, heavy vehicle manufacturer Japanese company Toyota Kirloskar has also announced to increase the prices of its cars by 1 percent from April 1, 2024. Toyota has increased the prices of cars for the second time in a year. Earlier, it had increased the prices of its models in January 2024.
Tata commercial vehicle prices increased by 2 percent
Apart from this, although the country’s leading automobile manufacturer Tata Motors has not made any announcement regarding the prices of cars at present, it has announced to increase the prices of commercial vehicles by 2 percent. Shares of Tata Motors were trading more than 1 per cent higher at Rs 1,003 on BSE in morning trade on Monday.
Honda increased the price of Amaze
Japanese automobile manufacturer Honda Cars India has also increased the price of its entry level compact sedan car Amaze at the beginning of the new financial year. Information has been given by the company that it has increased its price by about Rs 12,000.
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Red Sea Effect on Car Prices
The reason behind increasing the prices of cars has been stated by the manufacturing companies that due to the increase in the cost of manufacturing and spare parts, the prices of the cars have to be increased. It is also being told that the effect of attacks on cargo ships by Houthi rebels in the Red Sea is visible on the supply chain. Due to this attack the manufacturing cost of vehicles has increased. However, companies also say that this crisis is not putting too much burden on the customers, but to compensate for this, the prices of vehicles are being increased slightly.
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