Pay More For Cars, Bikes From April 1st: Tata, Hero, BMW, Audi & Others Will Hike Price | Check Full List
Starting from April 1 when the new financial year commences, several automakers will initiate hikes.
They are passing on the burden of rising input costs, including that of raw materials on to the consumers.
The companies affected are Hero MotoCorp, Toyota Kirloskar Motor (TKM), BMW India, Mercedes-Benz India, Audi India, and Tata Motors among others.
The two-wheeler maker announced on March 29 that it will hike the prices of its motorcycles and scooters with effect from April 5.
The upward revision was needed in order to partially offset the impact of increasing commodity costs.
The hike will be up to Rs 2,000 and the exact quantum of increase will be subject to the specific model and the market.
Toyota Kirloskar Motor (TKM)
It will hike the prices of its models by up to 4% from April 1.
A spokesperson said that as a committed and customer-centric company, TKM has made all efforts to reduce the impact of rising costs on consumers.
The luxury automaker will increase prices by up to 3.5% across its model range effective from April 1.
The hikes will help the company adjust the material and logistics costs, the impact of the current geopolitical situation, and exchange rates.
The price increase will be in the range of 3% across the entire model range effective from April 1.
It cited the constant increase in input prices along with increase in logistics rates to have exerted significant pressure on the overall costs of the company.
It will raise prices across its whole product line in India by up to 3% starting from April 1.
Like all the other brands, the luxury automaker is increasing prices as a result of rising input costs.
It had announced a hike of 2-2.5% depending upon individual models and variants, starting April 1.
It has been hit by rising prices of commodities, such as steel, aluminum, and other precious metals — in addition to higher costs of other raw materials.
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