If you are planning to buy a car in the New Year, it's going to be an expensive start as the auto majors in the country are on a price-hiking spree citing rising input costs. Major auto makers like Hyundai, Maruti Suzuki and Tata Motors have already announced price hikes for their entire range of models in the market from next month.
Here we have the list of all the car makers who have announced a hike from January and the quantum of the price hike.
India's largest car manufacturer, Maruti Suzuki announced a hike in price by up to Rs 20,000 across its models. The increase in price would be effective from the start of next year and will vary across models.
The second-largest car manufacturer in the country, Hyundai Motor India Limited has announced a price hike of up to Rs 30,000 across all its models from next January.
Toyota Kirloskar Motor
Toyota Kirloskar Motor (TKM), the Indian arm of Toyota Motor Corporation declared a hike in price on its entire range of vehicles by 3% with effect from 1 January 2016. TKM is yet to finalize the details on the quantum of hike on individual models and the hike in price is due to rising input costs and unfavourable foreign exchange fluctuation.
Japanese car manufacturer Honda's Indian subsidiary Honda Cars India Ltd also joined the price hike bandwagon and increased the prices by up to Rs 16,000 starting from 1 January 2016. The increase in price will vary depending upon the model.
General Motors India announced a 2% increase in the prices of its locally-built Chevrolet vehicles. The increase in price would be effective from 1 January, 2016.
Japanese manufacturer Nissan and its subsidiary, Datsun, has announced a hike in prices of their models, up to 3% from January 2016 in India. The increase in price will depend on individual models, and will range from 1% to 3%.
Tata Motors has hiked the prices of its models in the country from January. The quantum of the price hike will be up to Rs 20,000 and the increase in price will be effective from the first month of the New Year.
The prices of Renault cars in India will go up by up to 3% from 1 January. Renault's latest small car offering Kwid will also get pricier in the country from January.
BMW India declared an increase in the prices on its entire range of cars sold in India by 3%. The new prices will be effective from 1 January, 2016, and applies to the Mini brand the BMW Group is selling in India.
Mercedes-Benz India announced it would hike the prices of all its models in the country from January 2016.The quantum of the price hike will be up to 2%, and the increase will be effective from 1 January.
Skoda Auto India Private Limited (SAIPL) has announced a hike in prices by up to Rs 50,000 for its entire model range starting from 1 January, 2016. The price increase will translate into an increase of around Rs 14,000 to Rs 50,000 depending on the model and the variant.