The Indian auto market has been recovering from the slump caused by the Covid-19 pandemic. On the path to recovery, the auto market reported an increase of 23 percent in the sales of passenger vehicles, with over 37.93 lakh dispatched units. However, will these numbers increase in 2023? The question remains to be answered amidst the price hike prevalent across brands in India. Multiple auto manufacturers in India announced the prices of vehicles are to be increased from January 2023. The increased prices are meant to tackle rising input costs and stricter government norms.


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The new government norms are supposed to come into effect from April 2023. As per these norms, the vehicles need to have an onboard self-diagnostic device to keep a track of real-time driving emission levels. To keep up with these, the companies that have announced a price hike include Hyundai, Tata Motors, Marut Suzuki, Audi, Mercedes-Benz, Kia Indian, and MG Motors.


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Company-wise price hike:


Maruti Suzuki


India's biggest automaker has announced that the company's vehicles will be expensive from Jan 2023. However, the quantum of the hike has yet to be discovered. Though, Indians can expect cars like Alto, WagonR, Celerio, Ertiga, Brezza, and others to be more expensive.


Tata Motors


Tata Motors will increase the prices of its vehicles to offset the rising input costs. The hike will affect both ICE and electric vehicles. Hence, prices of vehicles like Harrier, Nexon, Nexon EV, Safari, Punch, Tiago, and others might increase.


Honda


The automaker might increase the prices of its vehicles by Rs 30,000 for all its models. Hence increasing the prices of models like WR-V, Jazz, City, and others.


Kia India


Kia has announced to hike the prices of its entire model line-up by Rs 50,000 from this month. The price hike is to cope with the transportation and increasing commodity prices. Currently, the brand sells models like Seltos, Carens, Carnival, EV6, and more.


Hyundai


Due to increased input costs, Hyundai has also announced plans to raise pricing starting in 2019 but hasn't specified by how much. Hyundai now offers the Grand i10, Nios, Aura, i20, Venue, Verna, Creta, Alcazar, Tucson, and Kona EV in India.


Audi


Audi will increase the prices of its model line-up by up to 1.7 percent. The increased prices are owed to rising operational and input costs. Hence, prices of A4, A6, A8 L, Q, Q5, Q7, e-Tron, and others will be increased from January 2023.


Mercedes-Benz


The German automaker will increase the prices of its model by 5 percent. The prices are to manage the prices of increasing input and logistics costs. A-Class, EQS, C-Class, E-Class, S-Class, and all other models will be affected by the hike.


Jeep


Jeep announced a 2 to 4 percent price increase for each of its SUV models, including the Compass, Meridian, Wrangler, and the recently released Grand Cherokee. Like the majority of other firms, the increase has been attributed to growing input costs.


MG


MG Motors will increase the prices of its models by Rs 90,000 because of the rising input costs. Hence making Hector, Hector Plus, Astor, and Gloster more expensive in India from January 2023.


Citroen


The French automaker is a comparatively new entrant in India and currently has two models in its portfolio, i.e., C3 and C5. Both these models will have a price hike of 1.5-2 percent from January 2023.


Renault


The French company will raise the pricing as a result of rising input costs brought on by more expensive inputs. In India, Renault now offers the Kwid, Kiger, and Triber.


Volkswagen


Volkswagen announced a price increase for its whole lineup, which includes the Virtus sedan, Taigun, and Tiguan SUVs, beginning in January 2023. The brand hasn't specified how much the price will rise, though.