Car prices up 5% this year


The impact of implementation of new emission norms BS-6 Phase-2 is being seen in the country from April 1. Due to increase in costs, companies are increasing the price of cars. So far this year, almost all companies have hiked the prices of cars by up to 5%. This trend may continue till the end of the year.


Car companies, which had hiked prices of several models in January, hiked prices again in March-April and May. Kia India and MG Motor India hiked prices in March and Maruti Suzuki and Mahindra & Mahindra for the second time this year in April.


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Honda hiked the prices of some models in April and is set to increase the prices of some models in June. At the same time, Tata Motors has increased prices of cars and commercial vehicles by 0.6 percent to 5 percent in May.

Officials of the companies say that after the implementation of the new standard, they will have to install additional equipment in the car. Some of their cost burden is gradually being passed on to consumers.’

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Prices may rise further in June and after September: Expert
According to Vishal Damle, who is associated with the automobile industry, the new emission norms have increased the price of cars. Due to this, companies have been gradually increasing prices since the beginning of this year. By June, there will be an increase of 3 to 20 thousand rupees according to different models. Prices may increase by 0.5% to 2% more after September.

Is Tata car prices going to increase in 2023?
Tata Motors, India’s leading vehicle manufacturer today announced that it will marginally increase price of its passenger vehicles from May 1, 2023. The weighted average increase will be 0.6%, depending on the variant and model.
Which car prices have increased the most?
10 Automakers With the Biggest Price Increases in 2022
  • Honda. Porsche.
  • Jeep. Matt Slocum/AP/Shutterstock.
  • Mitsubishi. 2020 FCA US LLC.
  • Acura. David Dewhurst Photography / Mitsubishi.
  • Kia. Acura.
  • Infiniti. Kia.
  • Chrysler. July 2022 average transaction price: $48,384. …
  • BMW. July 2022 average transaction price: $67,770. …
What is the target of Tata Motors for 2023?
Vivek has maintained BUY on Tata Motors for a price target of Rs 625. ICICI Securities said that Tata Motors executed strong show across key verticals JLR delivering a strong performance.
Will car prices increase in May 2023?
This marks the second time in 2023 that the Indian automaker has implemented such a price hike. The Indian automaker has stated that the weighted average increase in prices for its passenger vehicles will be 0.6 percent, varying depending on the model and variant.

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