New Delhi, September 7 (Daily Kiran) : Maruti Suzuki, one of India’s leading car manufacturers, has announced a price hike of up to ₹20,000 on select models as the festive season approaches. This increase took effect earlier this month.
The company attributed this decision to rising inflationary pressures. Despite efforts to mitigate costs over the past few months, Maruti Suzuki stated that challenging conditions regarding expenses persisted.
In an exchange filing, the company noted, “Due to the increasing burden of inflation and ongoing difficult conditions for costs, we are compelled to pass some of the increased costs onto the market.” They emphasized their commitment to minimizing the impact of these price hikes on customers.
However, Maruti Suzuki did not specify which models would see these price increases, nor did they provide details on the new prices for various variants.
Earlier in August, the company had already raised prices for its Arena and Nexa models, with increases ranging from ₹2,500 to ₹30,000 depending on the model and variant.
In addition, Tata Motors announced a price increase of up to ₹25,000 across its passenger vehicle portfolio, which includes both internal combustion engine and electric models, effective from September 1. Hyundai Motor India also revealed a price hike of up to 1% across its portfolio.
These price adjustments come at a time when car manufacturers are grappling with rising input costs. They are striving to balance increased expenses with consumer demand and purchasing power in the passenger vehicle market.
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