The price of cars has been hiked due to the increase in input costs. The prices of cars have been hiked due to the rise in input costs.
Maruti Suzuki hikes prices for 6th time this year
Maruti Suzuki has hiked prices for the sixth time this year. The company has increased prices of its models by up to Rs 1.5 lakh, which is about 10% or more than last year’s hike in price.
Maruti Suzuki’s sales have fallen by a quarter this year, from 2 million vehicles sold in January 2018 to 1 million units sold in February 2019 and now it seems that car makers are getting ready to charge more again because they know that customers won’t complain if they don’t get any discount on their vehicles after all these years!
Toyota Kirloskar Motor hikes prices of all models.
Toyota Kirloskar Motor (TKM) has increased the prices of all models. The company has increased prices by up to Rs 1.2 lakh, which is mainly due to the rise in input costs. TKM hasn’t stated how much this will affect sales figures of their vehicles, but it could impact demand for these vehicles going forward as people try hard not to pay more than they have been willing to earlier when buying cars or trucks under this brand name.
Lexus and MG Motor India increase prices from September 2022
Lexus and MG Motor India have recently announced that they will be increasing the prices of their cars by up to 1.4% and 3.2%, respectively, from September 2022. The reason for this increase is due to the rise in input costs resulting from higher crude oil prices, which has led to inflationary pressures across all sectors in India over recent months.
In addition, both manufacturers have said that they will also reduce their discounts offered on new models as well as existing ones by up to 5%.
Car prices have been hiked due to the rise in input costs
The prices of cars and other vehicles have been hiked due to the increase in input costs. This is because the cost of crude oil has risen, which affects all automotive manufacturers globally.
In order for car makers to maintain their profit margins, they need to keep reducing prices just as oil companies need to raise theirs in order to meet demand. This is why some automakers have raised their prices by up to 20% globally over the past few months; however, there are several ways that governments can intervene on this issue:
- Increase Import Duty: The government may increase import duty on certain products such as motor vehicles so that consumers do not feel too much of an impact from rising input costs (and thus lower demand).
Prices of some cars have been hiked due to the rise in input costs. Maruti Suzuki has hiked prices for six times this year. Toyota Kirloskar Motor hikes prices of all models. Lexus, MG Motor India increase prices from September 2022 and will be effective from January 2020.