India (Commonwealth) _ Volkswagen Passenger Cars India said on Tuesday that, starting on January 1, 2024, it will increase prices across the board by up to 2 percent in order to counteract the negative effects of growing input and material costs. Several car manufacturers have already declared their intentions to raise their prices in January, including Maruti Suzuki, Hyundai Motor India, Tata Motors, Mahindra & Mahindra, Honda, Audi, and BMW.
Currently, Volkswagen offers three different models for sale in India. Two SUVs and one sedan are among them. The Volkswagen Polo 2024, Volkswagen ID.7, Volkswagen Tiguan 2025, and Volkswagen ID.4 are the four planned Volkswagen vehicle debuts in India.
Volkswagen AG, sometimes known as VW AG, is a German automaker with its headquarters located in Wolfsburg. It serves as the foundation of the Volkswagen Group, the fourth-largest automaker in the world, behind Ford, GM, and Toyota.The name is pronounced in German, meaning “people’s car”. “Volkswagen – Das Auto” or “Volkswagen – The Car” is its slogan.
Several automakers, such as Maruti, Hyundai, and Tata, have already announced price increases for certain models that will take effect in January 2024 as the year 2023 draws to an end.
Let’s examine these automakers’ statements on the upcoming price hikes in more detail.
Maruti
In late November 2023, Mahuti made an announcement announcing that, starting in 2024, prices for its Arena and Nexa models will increase. The carmaker claims that growing input costs are what caused the price hike, and rising commodity prices together with general inflation are the causes of this. However, Maruti has not yet disclosed the exact amount of the price increase.
There are now 17 models available in Maruti’s portfolio, including the Arena and Nexa variants. The Maruti Alto K10 costs Rs 3.99 lakh, while the Maruti Invicto costs Rs 28.42 lakh.
Hyundai
Hyundai has stated that growing input costs, unfavorable exchange rates, and rising commodity prices will cause them to raise the price of its vehicles starting in January 2024.
Tata
Additionally, Tata Motors has said that, as of January 2024, all of its ICE (internal combustion engine) and EV (electric vehicle) models would have higher costs. The Indian automaker has not yet disclosed the amount of the price increase per model.
Mahindra
Starting in January 2024, Mahindra vehicles—including the all-electric XUV400 EV—will cost more. Mahindra, like other manufacturers, cites increased input prices as a primary cause of the price increase. Depending on the model selected, the amount of the price increase will change. In India, Mahindra now sells 8 SUVs and 1 MPV. With a starting price of Rs 7.99 lakh, the Mahindra XUV300 is the most reasonably priced Mahindra SUV. In the meantime, the Mahindra XUV700, the company’s flagship SUV, is becoming more expensive.
Honda
Additionally, Honda is going to raise the price of all of its vehicles, including the newly released Honda Elevate. We’ll make an announcement later on the specifics of the price increase for each model. Honda has also attributed the hike to growing input prices.
BMW
According to BMW India, prices for their vehicles might rise by as much as 2% starting in January 2024. All models in the range, including the forthcoming BMW i7 electric vehicle, will see this price increase. The company claims that the two main causes of the increase are growing input prices and currency rate volatility. There are now 21 BMW models available in India, including 4 EVs.
Audi
With effect from January 2024, premium carmaker Audi likewise plans to raise the price of every vehicle it produces. The decision was made mostly due to increased input and operating costs. Four of Audi’s fifteen models that are sold in India are electric vehicles. At Rs 43.85 lakh, the Audi A4 is the most reasonably priced Audi available.
Other automakers including Renault, Nissan, Kia, and Jeep are anticipated to follow suit in the days to come, though they haven’t yet.
