Many manufacturers have announced that they will be increasing their prices from January 2021. Due to this, you would have to shell out more money to buy a four-wheeler as they will cost more. Usually, the manufacturers hike around 1 percent to 3 percent in the prices every year. However, this time things will be different. The price hike is expected to be more than the usual percentage. Many manufacturers also increased the prices when the BS6 emission norms were implemented. Some manufacturers have stated the reason for the price hike while some of the automakers have not released any information behind the reason for increasing the price. Today we list down every manufacturer that has announced a price hike from January 2021.
Maruti Suzuki has the largest market share currently in the automotive market of India. The manufacturer has declared a price hike effective from January 2021. The price will be increased for all the models that are currently on sale from the manufacturer. The price percentage increase will be different depending on the model. We assume that the small hatchbacks like Alto and the WagonR would not see a huge difference. However, vehicles like the XL6, S-Cross and the Ciaz might see a big difference in the price.
The South Korean based manufacturer, Hyundai which currently holds the second position in the market share of automobile sales in India has also announced a price hike from January 2021.
Prices will be increased for all the models of the manufacturer. The percentage that will be increased is still not disclosed by Hyundai. However, the manufacturer has said that the prices are being increased because of the rise in input and material costs. According to Hyundai, the price increase will depend on the model and the fuel type. So, we can assume that the smaller models like Santro should not see a price bump. However, the diesel variants of the models might get a significant increase.
Kia Motors recently launched the Sonet with an introductory price of Rs. 6.71 lakhs ex-showroom. The introductory price has not yet been revised. Whereas, the last price hike that the Kia Seltos received was in January 2020 which is almost a year ago. The manufacturer has shared with their dealers that the prices of the Kia models will be increased “substantially” with the price hike that is supposed to happen from January 2021. However, there is still no official information from Kia yet.
The Indian manufacturer is slowly refreshing its line-up. The 2020 Thar is already a huge success in the Indian market. Mahindra has announced that they will be increasing the prices from January 2021. The price hike will be for commercial vehicles as well as the passenger vehicles. They have also stated the reason behind the price hike as the increase in commodity prices and the increasing input costs. The price hike will vary depending on the model, variant and the engine. The exact percentage of the price hike is not yet announced from the manufacturer.
Renault India has announced a price hike of up to Rs. 28,000 on its vehicles starting from January 2021. Renault said steadily increasing input costs across the spectrum, including input costs for steel, aluminium, plastics and other affiliated cost increases during the pandemic’. The prices will increase for all the models in the line-up that Renault currently has. Renault currently has 3 models in the line-up namely Kwid, Triber and the Duster. They recently showcased the Kiger Concept which is supposed to launch in 2021.
MG Motors is currently working on launching the facelift of the Hector. They are also working on increasing the prices of their vehicles from January 2021. The auto manufacturer said “undertake a price revision across its product range in view of the miscellaneous cost increase. The price hike will range up to 3 per cent, depending on the model and will be applicable from January 1, 2021”. They currently have 4 models in their line-up namely Hector, Hector Plus, ZS EV and the Gloster.
Honda has not yet officially announced the price hike that is going to come in effect from January 2021. However, a company dealer has confirmed that the Japanese manufacturer will be increasing the prices because of the pressure on input costs and currency impact. There is no other information available regarding how much the price will increase and which vehicles will be affected by the price hike.
Ford India has announced that they will be increasing the prices of all of its models by upto 3 percent. The prices will be increased from January 2021. The prices are being increased because of the rising input costs. The price hike will be between 1 percent to 3 percent depending on the model. This translates to an amount of Rs. 5,000 to Rs. 35,000.