Tata Motors Announces Price Hike
Tata Motors has announced a price hike for three of its popular commercial vehicles ★Ace, Intra, and Winger, effective from January. Automobile experts believe that the sales of passenger vehicles might slow down this year due to price hikes announced by several companies. They predict that sales might be sluggish towards the end of the current fiscal year and the end of the year.
Maruti Suzuki Increases Prices
According to media reports, India’s largest passenger vehicle manufacturer, Maruti Suzuki, has announced a price hike for all its passenger car models in India. The price of each car model has increased by 0.45%, which will be effective from tomorrow. Maruti Suzuki has attributed the price hike to inflation and the rising cost of raw material purchases. The company had hinted last November that car prices would increase in the new year.
Price Increase across Brands
Last year, referring to a price increase, Maruti Suzuki stated that the increase in car prices was due to some increase in production costs and the price of auxiliary equipment. However, Maruti is not the only one; other companies have also increased their car prices. These include Tata Motors, Honda, Mahindra, Hyundai, Skoda, and Audi.
Maruti Suzuki Sales Decline
In the recently released December 2023 sales report, Maruti Suzuki’s sales have seen a decline of 1.28%. In December 2023, Maruti Suzuki sold 1,37,551 units. In comparison, Maruti sold 1,39,347 cars exactly a year ago in 2022. The worrying aspect is that last month, there was also a 29% decline in the sales of small hatchbacks like Alto and Celerio compared to December 2022.
- Tata Motors has announced a price hike for three of its popular commercial vehicles from January.
- Maruti Suzuki has announced a price hike for all its passenger car models in India, attributing the increase to inflation and rising cost of raw materials.
- Other car companies, including Tata Motors, Honda, Mahindra, Hyundai, Skoda, and Audi, have also increased their car prices.
- Maruti Suzuki’s sales have seen a decline of 1.28% in December 2023, with a 29% decline in the sales of small hatchbacks.