2024 Brings New Car Price Hikes in India: Key Details for Buyers
As we step into 2024, if you’re in the market for a new car in India, it’s crucial to be aware of the latest price hikes by major automobile companies. This year, many big car companies, both luxury and local, have raised their prices starting January 1, 2024.
Table of Contents
1. Audi India
Due to higher production and operating costs, Audi India has decided to raise all its cars’ prices by a maximum of 2% as of January 1, 2024.Price increase: up to 2%. Reason: rising input and operating costs. Models affected: the entire range, including popular models like Audi A4, Q7, and e-tron series.
2. BMW
BMW, a German luxury car company, has raised its car prices by up to 2% since January 1. According to Vikram Pawah, President of BMW Group India, there are several reasons for this price increase. Price increase: up to 2%. Comment from BMW Group India President: The hike responds to various economic factors.
Price Range of Models: From BMW 220i M Sport to BMW XM, Rs 43.5 lakh and Rs 2.6 crore.
3. Mercedes-Benz
Starting January 1, 2024, Mercedes-Benz in India has raised prices on some of its car models by up to 2%. This increase is due to higher costs for materials and shipping, along with general inflation. Price increase: up to 2% on select models. Drivers: Surging input costs, commodity prices, and logistics expenses. Models Included: A selective range of luxury vehicles.
4. Volkswagen
Starting January 1, 2024, Volkswagen in India has raised the prices of all its cars by up to 2%. This is because the cost of materials and production has gone up. Price increase: up to 2% across all models. Company’s Statement: Increase due to rising input and material costs.
Model Range: Includes the entire Volkswagen lineup.
5. Tata Motors
Since January 1, 2024, Tata Motors has increased its vehicle prices by up to 3%. This applies to all their commercial vehicles and is due to the rising costs of production. Price increase: up to 3%. Application: Across all commercial vehicles.
Reason: To mitigate past input costs.
Key Takeaways for Buyers
With these price adjustments, planning your vehicle to buy in 2024 requires a careful look at these new rates. Whether it’s a commercial vehicle or a luxury model, knowing these changes can help you make a more informed choice.
