Maruti Suzuki car prices to rise by up to 4 percent from January 2025
Maruti Suzuki has cited a price increase as the reason for its recent move. Other car brands, including JSW, MG Motors, and Hyundai, have also made similar decisions.
Maruti Suzuki India Limited has announced that it will raise the prices of its cars starting in January 2025. This increase will be up to 4 percent and will vary based on the specific car model. The company explained that this decision comes as a result of higher costs for materials and running the business. While Maruti Suzuki is working hard to keep costs down and reduce the impact on buyers, some price increases are necessary to maintain its operations and ensure the quality of its vehicles.
This price increase announcement from Maruti Suzuki follows similar decisions from other major car brands. For instance, Hyundai Motor India Limited (HMIL) announced on December 5 that it would increase prices by up to Rs 25,000 for its 2025 models, effective January 1, 2025, due to rising costs for materials, transportation, and currency changes. Tarun Garg, the company’s COO, mentioned that while they try to absorb some costs, the price hike is necessary to keep up with continuing rises in expenses.
Additionally, on December 2, Audi India declared a 3 percent increase in prices for its vehicles, also citing similar reasons. The luxury brand emphasized that this adjustment is important for their growth and for the dealerships they partner with.
Raising prices at the beginning of the year has become common practice in the car industry, allowing companies to adjust their pricing in response to increased costs from the previous year while remaining competitive in the market. These changes aim to balance the financial health of the companies with the need to offer reasonable prices to customers.
Maruti Suzuki, the largest car manufacturer in India, saw good sales in November, selling 141,312 vehicles, which is an increase from 134,158 units in November 2023. However, sales were down from October 2024 when they sold 159,591 units. In November 2024, total vehicle sales reached 181,531, which included 144,238 cars sold in India, 8,660 cars sold to other manufacturers, and 28,633 cars exported to other countries.
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