Carmakers to hike prices again in January amid chip shortage, rising inflation

Buying a car will soon become more expensive as automotive companies are planning to hike prices of vehicles from January 2022.

Several automakers in the country are planning to hike prices of vehicles from January 2022 in the wake of the ongoing chip shortage that has led to slow production despite high demand.

For over a year, automotive companies operating in India have been suffering losses due to supply disruptions and the semiconductor crisis. While the chip shortage situation has improved, most carmakers have a huge backlog due to higher demand and lower production.