January 2024 Car Price Hike: THESE automakers have increased vehicle prices — Check full list

Car Price Hike 2024: With the beginning of the new year, many automobile companies have increased the prices of their vehicles in India. From luxury vehicle manufacturer Audi India to domestic automotive manufacturer Tata Motors - several big players in the automotive industry are included in this list. According to these companies, the increase in vehicle prices is effective from January 1, 2024.

So, if you are planning to buy a four-wheeler this year, it is advisable to check this list first:

Audi India

Luxury vehicle manufacturer Audi India has announced a price hike across its entire model range in the country. The German automotive manufacturer has increased the price of its vehicles by up to 2 per cent with effect from January 1, 2024. This decision has been attributed to the rising input and operating costs faced by the company.

Currently, the company's diverse product portfolio includes popular models such as Audi A4, Audi A6, Audi A8 L, Audi Q3, Audi Q3 Sportback, Audi Q5, Audi Q7, Audi Q8, Audi S5 Sportback, Audi RS5 Sportback, Audi RS Q8, Audi Q8 50 e-tron, Audi Q8 55 e-tron, Audi Q8 Sportback 50 e-tron, Audi Q8 Sportback 55 e-tron, Audi e-tron GT, and Audi RS e-tron GT.

BMW

German luxury carmaker BMW has increased the prices of its vehicles by up to 2 per cent from January 1. The company's decision to implement a price increase across the model range is a response to a confluence of factors, BMW Group India President Vikram Pawah said in a statement.

The company sells a range of luxury vehicles, starting from the BMW 220i M Sport to the BMW XM, priced between Rs 43.5 lakh and Rs 2.6 crore.

Mercedes-Benz

German luxury and commercial vehicle automotive brand Mercedes-Benz has increased the prices of its vehicles from January 1, 2024 in India. However, the price adjustment is affecting a range of select models, with an increase of up to 2 percent on ex-showroom prices.

The luxury car manufacturer cites a confluence of factors, including surging input costs, commodity costs, and logistics expenses, exacerbated by inflationary pressures, as the driving forces behind this decision.

Volkswagen

Volkswagen Passenger Cars India has also increased the price of its vehicles with effect from January 1, 2024. To offset the adverse impact of rising input and material costs, the German automobile manufacturer has decided to hike prices by up to 2 percent across the model range.

"Effective 1st January 2024, Volkswagen Passenger Cars India plans to hike prices by up to 2% across its model range owing to rising input and material costs," a spokesperson of Volkswagen Passenger Cars India said in a statement.

Tata Motors

Domestic automotive manufacturer Tata Motors has hiked the prices of its vehicles by up to 3 per cent from January 1, 2024, to offset the residual impact of the past input costs. The new prices will be applicable across the range of commercial vehicles, according to the company.

Toyota Kirloskar Motor

Automotive manufacturer and saler Toyota Kirloskar Motor has increased prices of its vehicles ranging from 0.5 per cent to 2.5 per cent on select models and variants with effect from January 1, 2024. This increase was necessitated to partially offset the rising input costs, TKM said in a statement.