Vehicle costs are frequently raised by automakers multiple times annually. Typically, this occurs at the start of the fiscal year and the calendar year respectively. Since April 1st will mark the beginning of the new fiscal year (FY2024–25), many businesses intend to raise their car prices. This has also been disclosed by Toyota and Kia. In addition to this, Honda may raise the cost of its cars starting the following month.
Toyota
Toyota has said that it will raise the costs of certain model versions in India. There will probably be a 1% increase in prices. According to Toyota, growing costs and operating expenses are the main causes of the price hike. This will take effect from April 1. Toyota’s current lineup in India includes more than 10 models priced between Rs 6.86 lakh to Rs 2.10 crore.
Other than Toyota,
Kia is another business that just disclosed its intentions to raise prices. This Korean automaker plans to raise the price of some of its vehicles by as much as three percent. The corporation has justified the price rise by pointing to growing input costs, supply chain costs, and raw material prices. In India, Kia presently offers four different models at prices ranging from Rs 7.99 lakh to Rs 65.95 lakh.
Although several internet sources
have stated that Honda will likewise raise the price of its cars, the company has not yet provided formal information about the price rise. Honda now offers the Amaze, City (including City Hybrid), and Elevate models in India. There could be an increase in the prices of these three models. Currently, the prices of Honda cars in India range between Rs 7.16 lakh to Rs 20.39 lakh.
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