Friday 29th March 2024

Automobile Brands In India Announces To Price Hike From April 1

The automobile companies in India announced to price hike from April 1, 2023. Several major auto brands such as Tata Motors, Maruti Suzuki, and Honda are set to increase the prices of their vehicles by 2% – 5% on account of the implementation of the BS-VI phase 2 transition. This transition incorporates stricter emission norms leading to increased production costs for auto companies due to the implementation of an on-board self-diagnostic device (OBD 2) to monitor real-time driving emission levels in vehicles.

Moreover, the two-wheeler is also on the way to bringing similar change, according to the announcement by one of India’s largest two-wheeler manufacturers, Hero MotoCorp. Many brands have upgraded their vehicles to act in accordance with the new norms and hence have announced to increase in the prices of their models. Depending on the model, buyers can expect to pay Rs. 15000 to Rs. 20000 more.

Maruti Suzuki India has declared that it will hike prices throughout its model range in April as a partial step to mitigate the impact of “inflation and regulatory requirements .”The company, however, did not clear how much the price increased.

Tata Motors has announced that its commercial vehicle prices will rise by up to 5% beginning April 1 because of the imposition of the more strict BS-VI phase 2 emissions regulations.

Honda Cars India has unveiled that it will raise the price of its compact sedan car, the Amaze, by up to 12,000 rupees beginning April 1, 2023. The price increase aims to make up for the rise in production costs brought on by India’s upcoming strict emission regulations. But there will be no changes in the pricing of a mid-sized sedan, City.

Hero MotoCorp, India’s largest two-wheeler manufacturing company, has revealed that the pricing of its motorcycles and scooters will rise by about 2% effect from April 1, 2023. The price increase is intended to counteract the impact of rising production costs caused by the change to stricter emission standards, which necessitate the installation of on-board diagnostics (OBD 2) in vehicles.

Several other automakers, including Hyundai, Kia, VW, and others, have modified their vehicles to meet stricter emissions regulations. The companies changed the powertrain of their automobiles to minimise pollution.

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