India’s largest passenger car manufacturer Maruti Suzuki India Ltd will hike prices of its vehicles with effect from January 2024. The company has attributed the price hike to an increased cost pressure driven by overall inflation and increased commodity prices.
Maruti Suzuki is yet to confirm the scale of the price increase but has informed that it will vary across its model.
“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. While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market,” it said.
The car manufacturer had last hiked the prices of its cars by 0.8% across the model range from April 1, 2023.