- Tata Motors, Mahindra, Hyundai hike vehicle prices by 0.5% to 2.5% this financial year
- Mahindra & Mahindra leads with an average price rise of 1.6%, up to Rs 60,000 on SUVs
- Hyundai models like i10, i20, Venue, Creta increased by Rs 5,000 to Rs 15,000 in January
New financial year, and a brand new price jolt in the automotive world. Top auto players like Tata Motors Passenger Vehicles Ltd., Mahindra & Mahindra Ltd. and Hyundai India Ltd. have announced price hikes in the range of 0.5 to 2.5%. Others like Maruti Suzuki India Ltd. are yet to take a call.
M&M's price rise has been the sharpest among its peers. Here's a company-wise breakdown of which cars are slated to get more expensive starting this month.
Hyundai
Hyundai announced a price hike of 0.6% in January, wherein popular Hyundai models like i10, i20, Venue, Creta have become costlier. The current rates can see an increase between Rs 5,000 and Rs 15,000 depending on model type.
Tata Motors PV
Tata Motors PV announced price hike by 0.5%, wherein flagship models like Nexon, Punch, Harrier, Altroz and now going to cost more. The increase ranges between Rs 3,000 and Rs 13,000 depending on model type.
Mahindra & Mahindra
M&M has led the upward revision with a hike of up to 2.5%, translating to an increase of up to Rs 60,000 for its SUV lineup.
The auto player has announced an average increase of 1.6% on the entire portfolio, making it the highest revision among other listed companies. Popular M&M models like Thar, XUV 3XO, XUV7XO, Scorpio will become costly by Rs 10,000 to Rs 60,000 depending on model type.
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Crude Oil Shock To Weigh On Q4 Earnings?
Massive disruption in the global crude supply caused by the ongoing Iran war has also impacted the auto sector deeply. Brokerages have begun to slash target prices for many of the top auto players.
CLSA has lowered valuations across OEMs and auto names, reflecting growing caution amid persistent geopolitical disruptions and commodity inflation.
Revised target prices span the entire pack: Ashok Leyland, Bajaj Auto, Eicher Motors, Escorts Kubota, Hero MotoCorp, Hyundai Motor India, Mahindra & Mahindra, Maruti Suzuki, Tata Motors PV, Tata Motors CV, TVS Motor.
Most of these revisions also come with earnings cuts and cautious outlooks on margins.
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