New car, SUV prices to be hiked from January 2023

Kia, Maruti Suzuki, Tata Motors, Mercedes-Benz and Audi have announced a price hike across their model range from January 2023. All carmakers have cited an increase in commodity prices as the major reason behind the hike.

1. Kia will hike prices across its entire range by up to Rs 50,000
2. Maruti Suzuki, Tata will also hike the prices from January
3. Audi will hike prices by 1.7 percent across the entire line-up

Maruti Suzuki

Maruti Suzuki has confirmed that it will be increasing the prices of its entire model line-up, although the hike will vary depending on the model. Apart from the rise in commodity prices, Maruti Suzuki has said the price hike is also due to regulatory requirements from the government that have increased the cost pressure. Currently, Maruti Suzuki’s line-up includes the Alto, Alto K10, Baleno, Brezza, Celerio, Ciaz, Dzire, Eeco, Ertiga, Grand Vitara, Ignis, S-Presso, Swift, Wagon R and XL6. 

Kia

Kia will hike the price of its entire model line-up by up to Rs 50,000 from January 2023. The South Korean manufacturer has also stated increasing commodity and transportation costs as the reason for the hike, which will be applicable to all bookings made after December 31. Currently, it has the Carens, Carnival, EV6, Seltos and Sonet in its portfolio.

Tata

Along with the rise in commodity prices, Tata Motors also states that updating its vehicles to meet the upcoming RDE norms will lead to an increase in prices. The manufacturer currently sells the Altroz, Harrier, Nexon, Nexon EV, Punch, Safari, Tiago, Tiago EV, Tigor and Tigor EV.

Audi

The German carmaker will hike the prices of its entire line-up by up to 1.7 percent, and, as others, has cited increasing input and operational costs as the reason for the hike. Audi's line-up currently includes the A4, A6, A8 L, Q3, Q5, Q7, Q8, S5 Sportback, RS 5 Sportback, RSQ8, e-tron, e-tron Sportback and e-tron GT. 

Mercedes-Benz

Mercedes-Benz will also increase the prices of the products in its portfolio by 5 percent. It, like others, is also hiking prices to counter increasing input and logistics costs. Mercedes-Benz's portfolio currently includes the A-Class, A-Class hatchback, C-Class, E-Class, S-Class, EQB, EQC, EQS, GLA, GLB, GLC, GLC Coupe, GLE, GLE Coupe, GLS, G-Class and the two Maybach models – GLS and S-Class.

Renault

The French manufacturer will hike the prices, owing to increasing input costs due to pricier commodities. Renault currently sells the Kwid, Kiger and Triber in India.

Citroen

Citroen has announced that it will increases the prices of its C3 and C5 models by 1.5 to 2 percent from January 2023. 

Jeep 

Jeep announced a price hike of 2 to 4 percent for its entire SUV range, which includes the Compass, Meridian, Wrangler and the newly launched Grand Cherokee. Like most other manufacturers, rising input costs have been cited as the reason for the hike.

Hyundai 

Hyundai is also set to increase prices from next year due to rising input costs, but hasn't mentioned by how much. Currently, Hyundai's India line-up consists of the Grand i10 Nios, Aura, i20, Venue, Verna, Creta, Alcazar, Tucson and the Kona EV.

MG

MG announced a price hike of Rs 90,000 across all models, citing high input costs. MG's India potfolio conists of the Hecor, Hector Plus, Astor and Gloster SUVs. 

Volkswagen 

Volkswagen also announced a price hike starting January 2023 across its portfolio which consists of the Virtus sedan, and Taigun and Tiguan SUVs. However, the brand hasn't mentioned by how much will the price increase. Volkswagen has attributed rising input costs, and upcoming regulations for the hike. 

Honda

Honda announced that it will hike the prices by Rs 30,000 for all its models. Rising input costs and the upcoming emission norms are said to be the reasons for the hike. Honda India's current portfolio includes the Jazz, WR-V, City (4th-gen), City (5th-gen) and the Amaze.