Maruti Suzuki, Mahindra will increase vehicle prices from January
New Delhi New Delhi: Maruti Suzuki India and Mahindra & Mahindra on Friday announced plans to hike vehicle prices from January to mitigate the impact of rising input costs and operating expenses. Maruti Suzuki, the country’s largest carmaker, will hike prices across its model range by up to 4 per cent from January. Mahindra & Mahindra is raising prices of its SUV models and commercial vehicles by up to 3 per cent. Maruti Suzuki India said in a regulatory filing that in view of rising input costs and operating expenses, the company plans to hike prices of its cars from January 2025.
Prices are expected to increase by up to 4 per cent and will vary depending on the model. “While the company constantly strives to optimise costs and minimise the impact on its customers, some portion of the increased costs may need to be passed on to the market,” the company said. Maruti Suzuki sells a range of models in the domestic market, from the Alto hatchback to the Invicto multi-utility vehicles.
Mahindra & Mahindra said it will increase prices of its SUVs and commercial vehicles by up to 3 per cent from January next year. Mahindra & Mahindra (M&M) said in a statement that the adjustment has been made in response to rising costs due to inflation and increased commodity prices. The automaker has attempted to absorb as much of these additional costs as possible, however, a part of this increase will have to be passed on to customers, it said. The auto major said the price increase will range up to 3 per cent across various SUVs and commercial vehicles.
Similarly, JSW MG Motor India said it will also increase prices of its entire model range by up to 3 per cent from next month. The automaker said in a statement that the price hike is a result of constantly rising input costs and other external factors. “Our dedication to quality, innovation and sustainability is a priority and drives us to constantly improve our offerings. In doing so, minor price adjustments are inevitable to offset rising input costs,” JSW MG Motor India Chief Commercial Officer Satinder Singh Bajwa said. He said the company is trying to minimise the impact on customers, but a modest price hike protects it from inflation challenges.
On December 5, Hyundai Motor India announced a price hike of up to Rs 25,000 across its model range of vehicles from January 1, 2025. It said the price hike has become necessary due to rise in input costs, unfavourable exchange rate and increase in logistics cost. Various luxury automakers Mercedes-Benz, BMW and Audi have also announced a hike in vehicle prices from next month.
