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Auto Buyers May Feel Inflation Pinch
Mint Mumbai
|March 24, 2023
Top automakers announce price hikes starting next month
Vehicle prices across commercial, passenger, and two-wheeler segments are set to rise starting 1 April, as stricter BS-VI phase II emission rules kick in and automakers pass on the impact of input cost inflation.
Top Indian automakers such as Hero MotoCorp, Maruti Suzuki and Tata Motors have announced price increases across their product portfolios starting next month. Others are expected to follow suit soon. The price hikes range from 2% for Hero MotoCorp's two-wheelers to 5% for Tata Motors' commercial vehicles.
Maruti Suzuki, which does not sell the more polluting diesel models, said it is evaluating the extent of the increase. The auto industry has been grappling with rising costs of raw materials, parts and freight for the past two years.
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