Tata Motors is the first first to announce price hike of its products with immediate effect. Company increased the prices of its passenger vehicles from Rs 2,000 to Rs 35,000 due to cess levies from the Budget announcement. The hiked prices will be applied depending on vehicle type, segment, fuel type and variants. Tata Motors passenger vehicles are available ranging from entry-level small car Nano to premium crossover Aria at priced between Rs. 2.04 lakh and Rs. 15.79 lakh (ex-showroom Delhi).
Hyundai Car Prices Hike
After Tata Motors announced a price hike across its complete range now Hyundai India has followed suit and released the new prices of its model range starting at Rs. 3,000 for the entry-level Eon and going up to Rs. 80,000 for top model range Santa Fe SUV.
Hyundai Cars Price Hike in 2016:
- Hyundai Eon – Rs. 3,000/-
- Hyundai i10 – Rs. 4,000/-
- Hyundai Grand i10 – Rs. 5000/-
- Hyundai Xcent – Rs. 13,000/-
- Hyundai Verna – Rs. 24,000/-
- Hyundai i20 – Rs. 18,000/-
- Hyundai Elantra – Rs. 47,000/-
- Hyundai Creta – Rs. 26,000 to Rs. 45,000/-
- Hyundai Santa Fe – Rs. 80,000/-
Honda Car Prices Hike
Honda Cars India is also planning to increase its prices range between Rs. 4,000 to Rs. 80,000. Currently the company is selling six models from entry-level Brio to premium SUV CR-V, priced between Rs 4.27 lakh and Rs 25.23 lakh (all prices ex-showroom Delhi).
Mercedes-Benz Car Prices Hike
The Mercedes-Benz India announced price increase between Rs 1 lakh to Rs 5 lakh, between 3% and 5% depending on the model. Manufacturer sells its models ranging from A-Class to Maybach in India, priced between Rs. 28 lakh and Rs 1.67 crore (ex-showroom price). But the Mercedes-Benz prices will be effective from 15th of March.
The Budget 2016 announced new taxes for all cars and SUVs like. The petrol and CNG powered small cars with an engine capacity of 1200cc will be punish an infrastructure cess of 1%, while small diesel cars with an engine capacity not exceeding 1500cc charge for a cess of 2.5%. And cars and SUVs with high capacity engines will be payable an additional cess of 4%. The Finance Minister also announced a luxury tax of 1% on cars priced over 10 lakh in addition to the infrastructure cess.