New Delhi, December 7
Maruti Suzuki and Mahindra & Mahindra have announced plans to increase vehicle prices from January to offset the impact of rising cost and operating expenses. The country’s largest carmaker Maruti Suzuki will increase the prices of its model range by up to 4 percent from January and Mahindra & Mahindra is increasing the prices of its SUV models and commercial vehicles by up to 3 percent.
Maruti Suzuki India said in a regulatory filing that in view of increased input costs and operating expenses, the company plans to increase the prices of its vehicles. Under which the price of cars is expected to increase by 4 percent from January 2025 and it will vary depending on the model. That said, as the company continually strives to optimize costs and minimize the impact on its customers, some of the increased costs may need to be passed on to the market.
Mahindra & Mahindra, on the other hand, said it will increase the prices of its SUVs and commercial vehicles by up to 3 percent from January next year. Mahindra & Mahindra said in a statement that the provision is subject to rising costs due to inflation and rising commodity prices.
The automaker has tried to absorb these additional costs as much as possible, although a portion of the increase will need to be passed on to customers, the company said. The company says the price hike for various SUVs and commercial vehicles will be up to 3 percent.
Similarly, JSW MG Motor India said it will increase the prices of its entire model range by 3 percent from next month. The automaker said in a statement that the price hike is a result of ever-increasing input costs and other external factors.
Satinder Bajwa Singh, Chief Commercial Officer, JSW MG Motor India said, “Our dedication to quality, innovation is a priority and drives us to continuously improve our offerings. In doing so, marginal price changes are inevitable to offset rising input costs.
Earlier on December 5, Hyundai Motor India announced a price hike of up to Rs 25,000 across the model range from January 1, 2025. Increase in prices is necessary due to increase in input costs, adverse exchange rate and logistics. Apart from this, various luxury vehicle manufacturers Mercedes Benz, BMW and Audi have also announced to increase the prices of vehicles from next month. News-Patiala