Planning to buy car in new fiscal year 2024-25? Take a look at the companies that have taken price hike

Car price hikes: The new fiscal year 2024–25 kicked off on Monday (April 1, 2024), and with the start of the new financial year, several prominent car manufacturers will see an increase in their prices of cars, multi-purpose vehicles( MPVs), and sport utility vehicles (SUVs). Several car manufacturers had already announced price hikes earlier, and many of them will do so in due course. Car makers say that they are increasing the prices of their vehicles due to an increase in input costs. 

From today on, KIA cars will become costlier by 3 per cent. The company said that the prices of all its vehicles that are sold in India will increase by 3 per cent, effective April 1. 

Meanwhile, heavy vehicle manufacturer Toyota Kirloskar will also increase the prices of its select models by 1 per cent from today, i.e., April 1. This will be the second time there has been an increase in the company's vehicles this year. Before this, Toyota had increased the price of all its vehicles in January.

Besides, Tata Motors commercial vehicles will be dearer starting April 1. The company added that they have increased the prices of commercial vehicles by 2 per cent due to an increase in input costs.

Shares of Tata Motors ended 0.09 per cent lower at Rs 992.10 on the BSE.

Besides these, Honda Cars India will also raise the prices of its entry-level compact sedan Amaze by up to Rs 12,000 to offset the impact of an increase in production costs owing to the upcoming stricter emission norms starting in April. 

"We will increase Amaze prices by up to Rs 12,000 with effect from April 1 to factor in the rise in production costs due to the upcoming stringent emission norms," Honda Cars India Vice President Marketing & Sales Kunal Behl told PTI.

The company would not be altering the prices of its mid-sized sedan City, Behl added.

The Indian automobile industry is currently working to make their products meet the second phase of BSVI.