According to a media source, practically all automakers in India are planning to raise their vehicle costs. As a result, buying a car in the new year may be prohibitively expensive.
The current year has been particularly difficult for automakers, and the vehicle industry has been sluggish throughout the year as a result of the Covid-19 lockdown. The festive season in India traditionally ushers in spring for the automakers, but this year, due to a lack of semiconductor chips, companies are postponing completing orders even after they have been placed. Following this, clients may experience disappointment in the coming year.
Preparations for a price increase
The majority of Indian corporations are ready to raise their automobile pricing. According to ET Auto, car costs are expected to rise starting in January 2022. Let us inform you that this tendency has persisted among automobile manufacturers for the past few years, with nearly all of them raising car prices as soon as the new year arrives. Maruti Suzuki, Hyundai, and MG are some of these companies. Aside from the global chip shortage, the rise in cost price is also a major factor in the rise in car prices.
Read More: Nora Fatehi Troll: Nora Fatehi’s top was cut like this! People were angry after watching the VIDEO
In January 2022, a rise is expected.
Let us also mention that a major automaker like Maruti Suzuki hiked the pricing of their automobiles three times in 2021 alone, with another likely increase in January 2022. The soon-to-be-implemented CAFE2 law, which requires automakers to lower their average CO2 emissions by 113 g/kg, is another cause for the price increase. When these three elements are added together, it offers a compelling rationale for most automobile manufacturers to raise their prices beginning in January 2022
