Maruti Suzuki announced on Friday a price increase of up to 4% across its car lineup, effective from January 2025, in response to rising input costs. The company stated that the price hike will vary depending on the model. Maruti Suzuki explained that this decision is part of its efforts to optimize costs and mitigate the impact of higher input expenses on customers. It also noted that a portion of the increased costs must be passed on to the market to sustain operations and uphold quality standards. The automaker reported a strong increase in passenger vehicle sales, rising from 134,158 units in November 2023 to 141,312 units in November 2024. Total vehicle sales reached 181,531 units, which included 144,238 units in domestic sales, 8,660 units sold to other OEMs, and 28,633 units in exports.

Hyundai and Audi Follow Suit with Price Hikes

Hyundai Motor India Limited (HMIL) also announced a price increase of up to ₹25,000 across its range, effective January 1, 2025. This hike was attributed to rising input, logistics, and transportation costs, along with unfavorable foreign exchange rates. Tarun Garg, Whole-time Director and COO of HMIL, emphasized that the price adjustment was necessary to counter sustained cost increases, although the company strives to absorb costs wherever possible.

Similarly, on December 2, Audi India declared a 3% price hike for its models, citing similar reasons. The luxury automaker highlighted the importance of this adjustment to ensure sustainable growth for both the company and its dealer network.

It is common for automakers to revise prices at the start of each year to align with rising operational costs, ensuring that pricing strategies remain competitive while maintaining sustainability.