The month of April is going to bring a new installment of inflation for the vehicle buyers. From April 1, the government is going to implement Phase 2 of BS6. Due to this technical change, the announcement of price hike has started from the major automakers of the country. The latest announcement has come from Maruti Suzuki India, which has about half the market share in the country. The company has announced that the prices of its vehicles will increase from April. Earlier, many companies including Honda Cars, Tata Motors have announced to increase the prices of vehicles from April. At the same time, two-wheeler manufacturer Hero MotoCorp has also announced an increase in prices.
Maruti increased prices
Maruti Suzuki on Thursday announced that it has to increase prices to partially offset the impact of regulatory requirements and inflation. Although the company did not say how much the prices would increase. Maruti Suzuki India said in the information sent to the stock markets that it continues to face cost pressure due to inflation and regulatory requirements. The company is making every effort to reduce costs but is forced to pass on some of the cost of the price hike to customers. The company said that the prices of the vehicles will be increased from April 2023 and this price hike will be different for different models.
Tata Motors increased the prices
Tata Motors is going to increase the prices of its commercial vehicles by up to five percent from April 1, 2023. The company announced on Tuesday. The company said that the increase in prices has been done in view of the second phase of BS-VI emission norms coming into effect from April 1. This increase in prices will be applicable across the entire segment of commercial vehicles. It will vary according to different models and versions. Tata Motors will increase the prices of its commercial vehicles by up to five per cent from April, the company said.
Why are prices increasing
The latest increase in prices is due to the BS6 Phase-2 transition. The auto industry is preparing for a price hike. According to a report, this time the hike could be around 2-4% or around Rs 15,000-20,000, depending on the make and model, while passenger vehicle companies like Maruti, Mahindra & Mahindra, Honda, MG, Kia and Tata Motors were earlier Since then, the quantum and date of hike have been worked out, even as commercial vehicle companies are announcing around 5% hike in prices.
Honda will also increase the prices
Similarly, while Honda recently launched its new City, company officials said that BS6 Phase II for other models will see a price hike from April. As for Tata Motors which on Tuesday announced a price hike of up to 5% on its commercial vehicles. The passenger vehicle range has already been converted to BS6 Phase II in February. A Tata Motors spokesperson said that part of the cost increase resulting from this regulatory change has been partially passed on in the price hike announced in February (about 1.2% increase) and the remaining part may be passed on in the next price hike.