Maruti Suzuki on December 6 announced a hike of up to 4 percent on its cars from January 2025 to offset the rising input cost, the automaker said in an exchange filing.
“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,” the statement said.
The carmaker added it continues to “minimize the impact” on the customers. However, “some portion of the increased cost may need to be passed on to the market”, the company said.
The stock of India’s largest carmaker was trading 0.58 percent higher at Rs 11,246.9 on December 6 at 12:06 pm.
The move comes a day after Hyundai Motor announced its decision to increase the prices of its cars starting 2025 due to rise in input and logistics costs.
The South Korean carmaker said it will hike the prices across its models by up to Rs 25,000 starting January 1.
"With the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment. This price increase will be done across models and the extent of increase will be up to Rs 25000. The price increase will be effective from January 1, 2025 on all MY25 models," Tarun Garg, whole-time director and chief operating officer, HMIL, said.
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