Maruti Suzuki India Limited (MSIL) has announced it will increase the prices of its cars from next month, i.e., January 2025.
“In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from January 2025. The price increase is expected to be up to 4% and will vary depending on the model,” Maruti Suzuki said in an official statement.
“While the company continuously strives to optimize costs and minimize the impact on its customers, some portion of the increased cost may need to be passed on to the market,” it added.
In terms of sales, Maruti has reported a 10 percent year-on-year (YoY) jump, at 181,531 units, in November this year. The automaker had dispatched 164,439 units to its dealers in the year-ago period.
Total domestic passenger vehicle wholesales were at 141,312 units as compared with 134,158 units in the year-ago month, a growth of 5 percent. Sales of mini segment cars, comprising Alto and S-Presso, stood at 9,750 units as against 9,959 units in November 2023. However, sales of compact cars—Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR—declined to 61,373 units as compared to 64,679 units in the year-ago month.
On Thursday, Hyundai Motor had announced that it would increase prices across its model range effective from January 1, 2025.
Various luxury automakers, Mercedes-Benz, BMW, and Audi, have also announced they will hike vehicle prices from next month.
Price adjustments at the start of the year have become an industry norm, allowing automakers to align pricing strategies with rising costs from the preceding year. These revisions aim to balance operational sustainability and market competitiveness.
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