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Tata Motors, Honda mulling worth hike from subsequent month

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With enter prices persevering with to rise, automakers like , Honda and Renault want to enhance automobile costs from January subsequent yr to offset the affect. Already, automotive market chief Maruti Suzuki and luxurious automakers Audi and Mercedes-Benz have introduced to hike automobile costs from subsequent month.

Whereas Maruti stated the worth rise deliberate for January 2022 will fluctuate for various fashions, Mercedes-Benz stated its hike will probably be on choose fashions by as much as 2 per cent resulting from function enhancement and rising enter prices.

Alternatively, Audi stated its worth enhance efficient January 1, 2022 will probably be as much as 3 per cent throughout its complete mannequin vary owing to rising enter and operational prices.

When contacted over the problem, Tata Motors President Passenger Autos Enterprise Shailesh Chandra stated:”Costs of commodities, uncooked materials and different enter prices proceed to rise. An applicable worth hike to at the least partially offset this enhance in prices appears inevitable within the close to to quick time period.”

The corporate sells fashions like Punch, Nexon and Harrier within the home market.

Honda Vehicles India additionally acknowledged that it’s contemplating worth enhance within the close to future.

“There’s a extreme affect on enter value resulting from commodity costs’ enhance. We’re nonetheless learning how a lot may be absorbed,” an organization spokesperson famous.

The maker of manufacturers like Metropolis and Amaze had final hiked the automobile costs in August this yr.

Renault acknowledged that it’s also taking a look at a “substantial” worth enhance throughout its automobile vary from January.

The French firm sells fashions like Kwid, Triber and Kiger within the Indian market.

The businesses have been pressured to take worth hike, with substantial enhance in costs of important commodities like metal, aluminum, copper, plastic and treasured metals over the past one yr.

In addition to, transportation value has gone up in latest instances affecting the whole value buildings of unique gear producers (OEMs).

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