The auto industry has become a witness to some major changes in the new financial year 2021-22. The most prominent and not so positive change has been a price hike that most car and bike makers have introduced. Apart from that, another major difference is the change in number of airbags in a car.
The Road and Transport ministry in its recent notification mentioned that it will be mandatory for all new car models to come equipped with dual airbags from April 1 onwards. The government has given car makers till August 31 to install dual airbags in older models. The rule for a single airbag, which is in the steering wheel, was made mandatory in July 2019. However, from now on, the two airbags for both the driver and rear seat passenger will make cars more safe for people. While this step is great in terms of safety, it is going to impact the pricing of cars in the range of Rs 5,000 to Rs 7,000, on average.
The reason that the auto makers are giving for increasing the price is the hike in the price of material used and annual price raise. Let's take a look at car and bike making brands who are going to introduced hiked prices from April 1:
Kawasaki: From what is known till now, the bike making company will be increasing the price of its two wheeler by upto ₹18,000.
Hero MotoCorp: The bike maker informed its client base in India about the price hike through a regulatory filing. The company has mentioned that the cost of all their bikes and scooters will shoot up to ₹2,500
Nissan: The Japanese carmaker has not given details about the expected amount of price increase. As of now, all we know is that the cost hike will be depending upon the model and variant of the car.
Datsun: The entire line of cars including the Datsun Redigo, Datsun Go, and Datsun Go+ will see an increase in price. Till now, there is no information about the amount or percentage of the hike.
Renault: The French car making company had already increased the prices of their offering by up to ₹28,000 in January this year. However, from what is known, the brand is again going to revise the rates of their vehicles. The exact quantum of the latest price hike is not available as yet.
Maruti Suzuki: The brand is going to increase the price between 1 to 6 percent depending upon the vehicle that one chooses to buy. In terms of amount, the price hike will approximately be between ₹5,000 and ₹34,000.