Several auto makers announce price hike from January 2021

German luxury carmaker BMW, Tata Motors, Utility vehicle maker Isuzu Motors India and Mahindra & Mahindra announced price hike in India from January next year.

New Delhi:After Renault, Maruti Suzuki and Hyundai increased vehicle prices, several other prominent auto makers also announced price hike of vehicles from January.

BMW to increase vehicle prices in India by up to 2 pc from January

German luxury carmaker BMW on Monday said it will increase prices of its entire model range in India by up to 2 per cent from next month.

The automaker will introduce the revised pricing for all BMW and MINI models effective January 4, 2021, BMW Group India said in a statement.

Prices will increase by up to 2 per cent across the portfolio, it added.

"In an unprecedented year, the company has been focused on providing best-in-class products and unparalleled services to its esteemed clientele. From January 4, 2021, BMW Group India will introduce the new pricing for BMW and MINI portfolio, increasing the prices marginally by up to 2 per cent to offset the increasing input costs," BMW Group India President Vikram Pawah said.

This will ensure that customer satisfaction, dealer profitability and sustainable growth, which are fundamentals of a successful business, remain strong, he added.

The company sells a range of locally produced cars in India including the 2 Series Gran Coupe, 3 Series, 3 Series Gran Turismo, 5 Series, 6 Series Gran Turismo, 7 Series, X1, X3, X4, X5, X7 and MINI Countryman.

BMW also sells 8 Series Gran Coupe, X6, Z4, M2 Competition, M5 Competition, M8 Coupe, X3 M and X5 M which come as completely built-up units (CBUs).

Besides, the MINI dealerships also showcase the MINI 3-door, MINI 5-door, MINI Convertible, MINI Clubman and MINI John Cooper Works Hatch as CBUs.

Rival Audi has already announced a price increase of up to 2 per cent across its entire model range, effective from January 1 next year.

Besides, mass market players like Maruti Suzuki India, Renault India, Honda Cars, Mahindra & Mahindra and Ford India have also planned to increase prices from next month.

Two-wheeler major Hero MotoCorp has also announced that it will increase the price of its vehicles by up to Rs 1,500 from January 1, 2021, to offset the impact of rising input costs.

Tata Motors to increase commercial vehicle prices from January

Tata Motors on Monday said its commercial vehicle prices will be revised upward from January next year.

The steady rise in material and other input costs, impact of forex and transition to BS-VI norms, have cumulatively increased the cost of manufacturing vehicles, necessitating a price revision to partially offset the impact, the company said in a statement.

"There will be a price increase across Tata Motors commercial vehicle range, effective January 01, 2021," the company said in the statement.

It said the actual change in price will depend on individual model, variant and fuel type.

The company had thus far been absorbing the addition in costs but with their steady rise in line with market trend, it has become imperative to pass at least some portion of the cost increase to customers via appropriate price revisions, it added.

The price increase is expected across the portfolio of medium and heavy commercial vehicles, intermediate and light commercial vehicles , small commercial vehicles as well as buses, Tata Motors said.

Isuzu Motors India to hike prices of pick-up range from Jan

Utility vehicle maker Isuzu Motors India on Monday said it will hike prices of its pick-up range - D-MAX Regular Cab and D-MAX S-CAB - from January 1 to offset increasing input and distribution costs.

The increase is expected to be approximately Rs 10,000 from the current ex-showroom price, the company said in a statement.

Isuzu Motors India currently sells its D-MAX Regular Cab with prices starting from Rs 8.64 lakh and D-MAX S-CAB with starting price of Rs 10.62 lakh (ex-showroom Mumbai).

"The increase in price is due to the increasing input and distribution costs," the company said in the statement.

German luxury carmaker BMW too on Monday said it will increase prices of its entire model range in India by up to 2 per cent from next month. Rival Audi has already announced a price increase of up to 2 per cent across its entire model range, effective from January 1.

Other automobile makers, including Maruti Suzuki India, Renault India, Honda Cars, Mahindra & Mahindra and Ford India have also planned to increase prices from next month.

Two-wheeler major Hero MotoCorp has also announced that it will increase the price of its vehicles by up to Rs 1,500 from January 1 to offset the impact of rising input costs.

M&M to hike prices of its tractors from January

Mahindra & Mahindra (M&M) on Monday said it will hike prices of its its range of tractors from next month in order to partially offset the impact of rise in input costs.

In a regulatory filing, M&M's Farm Equipment Sector said, effective January 1, 2021, it will increase the price of its range of tractors, across models.

This has been necessitated due to the increase in commodity prices and various other input costs, the company added.

Details of price increase across different models will be communicated in due course, M&M said.

Last week, M&M had announced it will hike prices of its entire range of passenger and commercial vehicles from next month in order to partially offset the impact of rise in input costs.

(PTI)