A continued rise in the cost of commodities and ocean freight costs has necessitated this price increase of the vehicle, it added.
The price of C5 Aircross currently starts at Rs 31.3 lakh (ex-showroom Delhi).
Some carmakers have already announced a hike in vehicle prices from next month such as Maruti Suzuki and luxury automakers Audi and Mercedes-Benz.
The country’s largest carmaker Maruti Suzuki informed that the price hike planned for January 2022 will vary for different models, while Mercedes-Benz said its hike will be on select models by up to 2 per cent due to feature enhancement and rising input costs.
Audi will increase the prices by up to 3 per cent across its entire model range owing to rising input and operational costs.
Similarly Tata Motors, Honda and Renault are also mulling hiking prices of passenger vehicles from January next year, given the continuing rise in input costs.
Tata Motors has also announced to hike prices of its commercial vehicles in the range of 2.5 per cent from January 1.
Prices of essential commodities such as steel, aluminum, copper, plastic and precious metals have substantially increased over the last one year.