Maruti Suzuki to hike prices of cars up to 4% depending on variant from January 2025

Auto major Maruti Suzuki India is set to increase the prices of its vehicles by up to 4 per cent, depending on the variant, starting in January 2025, according to a report by CNBC-TV18.

“Maruti to increase car prices by up to 4% depending on variant from Jan 2025. Some portion of the increased cost may need to be passed on to the market,” the channel posted on X (formerly known as Twitter).

Hyundai Price Hike

This come a day after Hyundai Motor India on December 5 said that it will hike prices of all its cars by up to ₹25,000 from January 2025, due to rising costs impacting profitability, according to a Reuters report.

“At Hyundai Motor India, our endeavor is always to absorb rising costs to the extent possible, ensuring minimal impact on our customers. However, 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 ₹25,000. The price increase will be effective from January 1, 2025 on all MY25 models,” CEO Tarun Garg said in a statement.

Industry-wide Trend Visible

It is not alone; other Indian automakers are also fighting higher costs from rising global commodity prices, high import duties on raw materials, and disruptions in supply chains, prompting some to hike prices earlier in 2024. Tata Motors, in fact, raised the prices of its commercial vehicles twice during the year, the report added.

Then, in November German automotive giant BMW’s two-wheeler division, BMW Motorrad, announced a price increase across its entire model range in India. Effective 1 January 2025, prices will rise by up to 2.5 per cent. In a statement, the company attributed the adjustment to escalating input costs and inflationary pressures.

Just a few days back on December 2, Audi India announced a 3 per cent price increase across its lineup, citing rising input and transportation costs, and other automakers are likely to follow suit in the coming weeks. Audi's portfolio includes popular models such as the Audi A4, Q7, e-tron GT, and RS Q8, among others.

(With inputs from Agencies)