Carmakers announce price hikes from August 2021

The first quarter of FY2022 saw several carmakers hike prices across the range or for specific models, citing rising input costs as the primary reason for it. The trend continues in the second quarter as well, with a few more carmakers having announced a price hike with effect from this month.

• Tata Motors line-up to see price hike across the range this month
• Toyota Innova Crysta prices up by 2 percent from August 1
• Honda Cars India to hike prices this month

Tata Motors price hike in August 2021

Tata Motors will be increasing the price of its passenger vehicles in India, effective from August 3, 2021. The price hike will be in the range of 0.8 percent on an average, depending on the variant and model. The company will, however, offer protection from the price increase to all vehicles retailed on or before 31st August’21. This will be the third price hike from the homegrown carmaker this year. Earlier in May, Tata increased prices of its vehicles by up to 1.8 percent. Prior to that, in January, prices of cars were hiked by up to Rs 26,000.

Toyota Innova Crysta price hike in August 2021

Toyota had also announced a price increase of 2 percent on the Toyota Innova Crysta, effective from August 1, 2021. It is unclear if other models will follow suit in the near future. Just in April this year, prices of the Innova Crysta were already hiked by Rs 26,000 across the range. 

Honda Cars India price hike in August 2021

Honda had also announced a price hike for all its models in India, with effect from August 2021. The Japanese carmaker previously increased prices in February and April by up to Rs 20,000 and Rs 10,000, respectively. Honda has, however, not revealed the quantum of the price hike, although it will vary from model to model.

All carmakers have yet again cited increasing commodity costs such as steel, aluminium, and precious metals, some of them being at an all-time high, to have sharply impacted the cost of manufacturing. Some of this thus inevitably needs to be passed on to the customer. Earlier last month, even Maruti Suzuki hiked prices of the Swift and all CNG models by up to Rs 15,000 for similar reasons. 

Image Source