Cars have become a necessity for a lot of people since the end of the pandemic. This boom has seen car sales reaching record highs in the country. Even with the price hikes, people are queuing up to buy cars. Now as we reach the end of this year, there is some bad news for new car buyers. Cars are going to get expensive from tomorrow. How? In today’s article, let’s talk about new car prices.
Price hikes
The start of the year generally means price hikes in the automotive scene. Several manufacturers like Maruti Suzuki, Kia, and Tata have already announced their price hikes. Maruti is hiking prices depending upon the model, while Kia is increasing Rs 50,000 on all its models. Other manufacturers like MG, Hyundai and Honda have also announced price hikes. Why the price hikes? Manufacturers have cited commodity prices and transportation costs as the major reasons for this price hike.
Upcoming norms
This will not be the last price hike in the next year. The next big hike could come in April 2023 due to the new Real Driving Emission Norms coming into effect. In these new norms, cars will need to have their emissions in control in the real world and not only in laboratories. For this, automakers will have to make major changes to the engine as well as exhaust leading to higher costs. Also, if six airbags become mandatory, that could lead to price hikes in smaller cars.
New car prices – New generations & facelifts
Several cars are also expected to get their new generations and facelifts. This is a good thing, but this will also lead to price hikes on these respective models. We can expect facelifted models of cars like the Tata Safari, Tata Harrier, Honda City, Kia Seltos, Hyundai Creta and much more. These facelifted models could see a price hike of Rs 60,000 to Rs 1 lakh. New-gen models include the new Verna and MG Hector. These models could see a price hike in the range of lakhs. So if you want to save money, you can buy the current models of these cars at a discounted price.
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Cars will become expensive from tomorrow! read on MotorOctane.