Maruti Suzuki, announced that it will increase the prices of its cars from January 2024, owing to inflation and increased commodity prices. India’s largest carmaker, however, did not mention the quantum of price hikes. It said the increase in prices will vary across models.
“The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices,” it said in a regulatory filing. “While the company makes maximum efforts to reduce cost and offset the in- crease, it may have to pass on some increase to the market.”
Maruti Suzuki had last hiked the prices of its cars by 0.8 per cent across the model range from April 1.
Earlier, German luxury car maker Audi announced a price increase of up to 2 per cent for its vehicles effective from January 1, owing to rising input and operational costs. The ex-showroom price for Audi India models woul be up by 2 per cent from January 1, 2024, the company said Balbir Singh Dhillon, hea of Audi India, said, “Achievin profitability through a sustain able business model remain a critical part of Audi India’ strategy, and we are committed to providing the best to ou customers. Due to rising supply-chain-related input an operational costs, we have effected a price correction across our model range, maintaining the brand’s premium price po
sitioning. The price correction aim to ensure sustainable growt] for Audi India and our deale partners, and we will ensur that the price hike’s impact i as minimal as possible for cus tomers.” Earlier this month Maruti Suzuki reported it highest-ever monthly sales a 199,217 units in October, a 1 per cent year-on-year growth