The nation’s largest carmaker Maruti Suzuki India on Monday mentioned it can enhance automobile costs in January 2024, citing price stress pushed by the general inflationary surroundings and elevated commodity charges.
The corporate — which sells a spread of automobiles from entry-level small automobile Alto to multi-utility automobile Invicto, priced between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi) — nonetheless, didn’t specify the quantum of the proposed value hike.
In an interplay with PTI, Maruti Suzuki India (MSI) Senior Govt Officer (Advertising and Gross sales) Shashank Srivastava mentioned the value hike would fluctuate from mannequin to mannequin and in some, will probably be “substantial”.
“There’s an inflationary stress throughout, together with volatility in commodities, so that’s the reason we have now determined to extend the costs in January,” he famous.
MSI had final hiked costs by 0.eight per cent in April this yr. It had hiked a complete enhance of two.four per cent within the final fiscal.
“There isn’t any alternative left for us now however to reinforce the costs…we’re but to determine the precise quantum of the rise,” Srivastava mentioned.
Earlier in a regulatory submitting, MSI acknowledged that the corporate has deliberate to extend the costs of its vehicles in January 2024 on account of elevated price stress pushed by general inflation and elevated commodity costs.
It additional mentioned, “Whereas the corporate makes most efforts to scale back price and offset the rise, it could need to cross on some enhance to the market. This value enhance shall fluctuate throughout fashions”.
German luxurious carmaker Audi mentioned it can hike costs of its automobiles in India by as much as 2 per cent from January subsequent yr, citing rising enter and operational prices.
The worth hike will probably be efficient from January 1, 2024, and will probably be throughout the mannequin vary, Audi India mentioned in a press release.
When contacted, Mercedes-Benz India famous that it is usually mulling to hike costs from January.
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