Gabriel Walker
Dec 09, 2023
In a surprising twist for automotive enthusiasts and potential buyers alike, 2024 has witnessed a notable spike in car prices, sending shockwaves through the industry.
As global economic factors, supply chain disruptions, and shifting consumer demands converge, the once-stable realm of automobile pricing is facing unprecedented challenges.
Gadinsider takes a look at some of the brands including Maruti, Hyundai, and Tata which have announced a price hike effective from January 2024.
Top 5 brands to increase car prices
Maruti Suzuki
Last month (November), Maruti announced that it will increase the price of both Arena and Nexa offerings from 2024 as rising commodity prices and overall inflation have resulted in increased input costs.
Hyundai
The car manufacturer has confirmed that it will raise the prices of its cars from next month January 2024 due to an unstable exchange rate, and increasing input and commodity costs.
Tata
From January 2024, Tata Motors will also increase the price of its cars, including all its ICE (internal combustion engine) and EV (electric vehicle).
Honda
Honda is set to increase the prices of most of its models, including the recently launched Honda Elevate citing similar reasons to its competitors.
Audi
Following an increase in its operational costs, luxury automaker Audi is set to raise the prices of all its cars from January 2024.
It should be noted that other automakers such as Renault, Nissan, Kia, and Jeep have not announced any price hikes yet, but they are expected to follow suit in the coming days.
