- Maruti Suzuki has announced that it will increase the price of all its cars a day after similar decision taken by Hyundai Motor.
Maruti Suzuki has joined Hyundai Motor to announce price hike of its cars from next month. India’s largest carmaker has issued a statement saying that the price of all the cars in its lineup will go up by four per cent from January 2025. The decision comes a day after Hyundai said it will increase the price of the models across its lineup by up to ₹25,000. With Maruti and Hyundai, both the top two carmakers in India have now announced price hike of models from the new year.
Maruti Suzuki made the announcement of price hike through a regulatory filing today. The carmaker said that the price hike is likely to be up to four per cent and may vary depending on models. Maruti Suzuki said that rising input costs and operational expenses have forced the carmaker to pass the burden to its customers from the new year.
Price hike from January: Maruti joins Hyundai, Mercedes, BMW and Audi
Maruti Suzuki is the fifth carmaker in India so far to have announced price hike from January. Earlier, the German luxury carmaker trio of Mercedes-Benz, BMW and Audi had made similar announcements. All the carmakers have listed increase in input costs and operational expenses as the key reasons behind their decisions. “While the company continuously strives to optimise costs and minimise the impact on its customers, some portions of the increased cost may need to be passed on to the market,” said the statement issued by Maruti Suzuki today.
Maruti Suzuki car sales in India
Maruti Suzuki is India’s largest carmaker with a market share of nearly 40 per cent. In November, the carmaker registered overall domestic sales of more than 1.44 lakh units compared to 1.34 lakh units during the same month last year. The utility vehicle segment, which includes SUVs like Brezza, Fronx, Grand Vitara among others, saw a growth of 16.9 per cent. The utility vehicles, which also include MPVs like Ertiga, XL6 and Invicto, have driven Maruti’s sales as the small car segment struggles to revive itself.
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First Published Date: 06 Dec 2024, 12:09 PM IST
