Maruti Suzuki to hike car prices by up to 4% starting January 2025

Maruti Suzuki, India’s largest car manufacturer, announced a price hike of up to 4% across its vehicle lineup starting January 2025. The decision aims to tackle escalating input costs, which the company states are impacting its operations and quality standards. The price increase will vary depending on the model.

In a statement, the company emphasized that while cost optimization measures are being implemented, some portion of rising costs must be passed on to customers to ensure sustainable operations. “We remain committed to providing the best value to our customers while maintaining the highest quality standards,” the company added.

Maruti Suzuki reported robust growth in vehicle sales over the past year. Total passenger vehicle sales rose from 134,158 units in November 2023 to 141,312 units in November 2024. Including domestic and export figures, the company sold a total of 181,531 units last month.

This announcement follows similar moves by other automakers. Hyundai Motor India Limited recently announced a price hike of up to ₹25,000 across its models, citing increased logistics, input, and transportation costs alongside unfavorable exchange rates. Hyundai’s price revision will also take effect on January 1, 2025.

Luxury car manufacturer Audi India joined the trend with a 3% price increase for its models, starting earlier in December. The German automaker attributed the hike to rising operational costs and emphasized that such adjustments are crucial for sustainable business growth.

Annual price hikes at the start of a new year are an industry norm, enabling automakers to align prices with rising costs and maintain market competitiveness. Despite these increases, automakers remain focused on optimizing costs to minimize the burden on customers.