Many carmakers including Tata, Toyota and Honda have announced to increase the price on selected car segments in the first quarter of FY2022.
Tata has announced to increase the car price from August 31 this year on selected car segment. The customers might face a price hike in the range of 0.8 percent as compared to an average price, depending on the car model and trims.
This is not the first the Tata is increasing the price of its vehicles, earlier, the company has increased prices in May 2021 by up to 1.8 percent and by up to Rs 26,000 earlier this year in January.
Toyota Innova Crysta price hike in August 2021
Japanese carmakers in India announced that they will be increasing the price of its Innova Crysta by 2 percent which the company starts charging from August 1, 2021. The company has not revealed a price hike on any other cars yet. Earlier, the carmakers increased the car price in April this year.
Honda Cars India price hike in August 2021
Honda has also announced a price hike on its selected models by Rs 10,000 to 16,000. Earlier, Japanese carmakers increased prices in February and April by up to Rs 20,000 and Rs 10,000, respectively.
Earlier last month, even Maruti Suzuki has increased the prices on Swift and all CNG variants by up to Rs 15,000.
The carmakers said the main reason behind increasing the price on cars is due to increasing commodity costs such as aluminum, steel, and other important stuff that being used to manufacture a car are at an all-time high, which is sharply impacting the cost of manufacturing.