With the price of new vehicles rising rapidly, of new cars During rising prices for new vehicles, the American automaker Jeep’s Indian subsidiary Jeep India slowly increased the cost of their Compass SUV by as much as 35,000 rupees.
The latest price increase is the second price increase over the last three months. This time, the Compass’s price has been increased by 35,000 Rs for all models, excluding that of the sport 2.0 diesel.
This model is the only exception it is raised by 25 percent. The last increase in Compass prices was in April, and the increase of around Rs 25,000 for all models was reported.
Jeep however isn’t the only automaker to have raised the price of its cars. A few days ago, in the automaker of Indo Japan, Toyota Kirloskar Motor hiked the cost of its wildly loved SUV Fortuner and MUV Innova Crysta.
The Fortuner has seen a price increase of 61,000 rupees, while the 4WD version is now priced at the amount of Rs 80,000.
The cost for the Toyota Innova Crysta has been raised by as much as Rs 86,000, too. It’s the 3rd time Toyota has raised the cost for Fortuner as well as Innova Crysta this year.
Toyota said that the price hike was required due to the rising cost of inputs and the price of commodities. Alongside the regular Fortuner, The Legender and the newly announced GR Sport variant have had their prices increased.
The cost of these models is up by the amount of Rs 1.14 lakh. The prices at the showroom for this model of the Innova Crysta MPV now start at 18.90 lakh and increase to 26.54 lakh.
The petrol version of the popular MPV remains unaltered, however, diesel manual models have seen a constant price hike of 27,000. Innova Crysta diesel automatic has seen the biggest price hike.
Other manufacturers who have recently raised their prices include Maruti Suzuki India Limited (MSIL), Mahindra and Mahindra, Kia, Skoda, and Hyundai.
The first was MSIL which raised the cost of all Maruti Suzuki automobiles, including ones that are sold in the Arena and Nexa networks.
Maruti Suzuki S-Presso received the lowest price hike, with a 7700 increase. While it is Ertiga CNG has received the largest price hike at $22,500.
In addition, Mahindra in its most recent announcement made public, said it would increase the cost of its automobiles by 2.5 percent.
This will be between Rs. 10,000 to the range of Rs. 63,000 (ex-showroom) according to the model and the variant.
Kia also announced price hikes in the last few months across the entire range of models, which varied from Rs 4,000 to around Rs 70,000.
In addition to the frequency of increasing prices The one thing that is common that all of these companies have in common is that they are all blamed for the higher costs of inputs in the production of automobiles for these recent price increases.
A majority of the OEMs have claimed that the current global scenario of the conflict between Russia and Ukraine as well as the impact of semiconductor shortages and COVID-19 are the primary causes of these sudden increases in price