Price Hike on Popular Cars: Customers who have been eagerly waiting for festivals to buy a new car may be disappointed this time. This is because companies are increasing the prices of cars due to consistently rising input costs. Those who were planning to bring home a car or XUV in this festive season will now need to loosen their purse strings a bit more. Some automobile companies have raised the prices of their cars, resulting in reduced promotional offers on popular models such as the Kia Seltos, Mahindra XUV 700, Honda City, and Hyundai Venue. This will directly impact your wallet.
According to the Economic Times, Kia India has increased the prices of its recently launched Celtos along with the Carnival by up to ₹50,000. Similarly, Mahindra has also hiked the prices of its high-demand Scorpio, Classic, En (XUV 300), Thar, and XUV 700 by up to ₹81,000. Hyundai Venue and Tata Nexon prices have also been increased by up to ₹48,000. Furthermore, Honda has also increased the prices of its popular sedans, the City and Amaze, by up to ₹7,900.
The reason behind the price hike is the increase in input costs, which the automobile companies say they could not completely absorb last year. Hence, it was necessary to pass on the burden of this cost hike to customers. Apart from that, it is natural for car prices to increase due to the introduction of the latest technologies such as ADAS.
Most customers wait for festivals to buy a new car as companies offer attractive deals during this time. However, this time customers may be disappointed as companies are increasing the prices of their cars due to consistently rising input costs since the pandemic.
Summery:
– Several car companies have increased the prices of their popular car models due to rising input costs.
– Companies such as Kia, Mahindra, Honda, and Hyundai have raised the prices of their cars, including Kia Seltos, Mahindra XUV 700, Honda City, and Hyundai Venue.
– Kia India has increased the price of its newly launched Celtos as well as the price of the Carrense by up to ₹50,000.
– Mahindra has increased the price of its high demand models such as Scorpio, Classic, XUV 300, XUV 700, and Thar by up to ₹81,000.
– Hyundai’s Venue and Tata’s Tiago have also seen price hikes of up to ₹48,000.
– Honda has increased the prices of its popular sedans, City and Amaze, by up to ₹7,900.
– The price hikes are due to the increase in input costs and the incorporation of latest technologies such as ADAS in cars.
– Customers who were waiting for festive offers may be disappointed by the price hikes caused by the continuous rise in input costs since the COVID-19 pandemic.
