Maruti Suzuki to Increase Prices of All Models from January 2024

Maruti Suzuki Cars, India’s largest automaker has just announced that it will be raising the prices of their cars from 1 January 2024. This will be the third time since 2023 that the brand will be hiking the prices of its lineup. Maruti stated that the rise in inflation is the factor behind the latest increase. We take a closer look.

Maruti Suzuki: New Price Hike

In a press release, Maruti Suzuki said that prices of cars have to be increased on account of increased cost pressure driven by overall inflation and increased commodity prices. The automaker also added that despite making maximum efforts to reduce costs and offset the increase, it may have to pass on some increase to the market.

Global inflation due to geopolitics and economics has affected multiple automakers, including Audi who also announced that it will be raising the prices of its models in India. In its BSE filing, Maruti Suzuki stated that the company is facing increased cost pressures due to inflation and increased commodity prices. While automakers try to absorb the additional cost, they cannot keep doing that after a certain point.

Maruti Suzuki: Expected Hike in Pricing

While Maruti will only reveal the exact prices in January 2024, expect all models to cost around 1-2 percent more than currently. The automaker raised prices by 1.1 percent in January 2023, followed by a 0.8% increase in April. Furthermore, models with a higher level of features and creature comforts will likely get a higher price hike.

Read Also: Audi India Announces Price Hike Across Model Range