Car Price Hike From 1st April 2023 Car Price Hike Know Reason Behind It

Car Price Hike: The burden on the pockets of car buyers is going to increase in April. Automobile sector major Maruti Suzuki has announced on Thursday that from April 1, 2023, the company is going to increase the price of cars. The increase in the cost of cars has been cited as the reason behind this increase. In fact, according to the government’s BS6-II emission standards, new equipment and software will be required to make vehicles. In such a situation, the company is going to put some burden of this expenditure on the customers.

Many companies increased the price of the car

It is worth noting that not only Maruti but also Tata, Mercedes-Benz (Mercedes Benz Car price hike), BMW (BMW price hike), Toyota (Toyota Cars Price hike) and Audi (Audi Car price hike) many companies. Have decided to hike your car prices. The cars of all these companies are going to be expensive from April 1. According to experts, cars of different companies can cost up to Rs 50,000.

Tata also increased the price of commercial vehicles

Before Maruti, Tata Motors had announced an increase in the prices of its commercial vehicles (Tata Motors Price Hike). The company has decided to increase the prices of the vehicle by 5 percent. These rates will also be applicable from April 1, 2023. According to the information given by Tata Motors, this increase has been done according to the model and variant.

Why is the price of the car increasing?

Significantly, the government is going to implement the BS6-I emission standard from April 1. This will help in controlling pollution. In such a situation, car companies will need many new parts and software to meet these standards. In such a situation, the cost of car manufacturers is increasing. Companies are passing the burden of their cost on the customers. Earlier on 1 April 2020 BS 6-I emission standards were implemented. Even then, an increase of up to Rs 50,000 was registered in the prices of the cars.

double whammy on customers

Customers buying cars or commercial vehicles are facing a double whammy at this time. On the one hand, due to the continuous increase in the repo rate, the burden of EMI of car or vehicle loan is increasing on the people. On the other hand, the increase in the price of the car is also going to hit. Looking at the situation of inflation, the possibility of reduction in the repo rate is very less for some time to come. In such a situation, customers will have to shell out more to fulfill their dream of a car.

read this also-

UK Inflation: Inflation increased in Britain for the first time in four months, will Bank of England raise the interest rate once again?