The nation’s largest carmaker Maruti Suzuki India on Monday stated it is going to improve car costs in January 2024, citing price stress pushed by the general inflationary atmosphere and elevated commodity charges.
The corporate — which sells a spread of autos from entry-level small automotive Alto to multi-utility car Invicto, priced between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi) — nevertheless, 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 stated the value hike would fluctuate from mannequin to mannequin and in some, it is going to be “substantial”.
“There’s an inflationary stress throughout, together with volatility in commodities, so that’s the reason we’ve determined to extend the costs in January,” he famous.
MSI had final hiked costs by 0.8 per cent in April this 12 months. It had hiked a complete improve of two.4 per cent within the final fiscal.
“There isn’t any alternative left for us now however to boost the costs…we’re but to determine the precise quantum of the rise,” Srivastava stated.
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 stated, “Whereas the corporate makes most efforts to scale back price and offset the rise, it could need to move on some improve to the market. This value improve shall fluctuate throughout fashions”.
German luxurious carmaker Audi stated it is going to hike costs of its autos in India by as much as 2 per cent from January subsequent 12 months, citing rising enter and operational prices.
The value hike can be efficient from January 1, 2024, and can be throughout the mannequin vary, Audi India stated in an announcement.
When contacted, Mercedes-Benz India famous that it is usually mulling to hike costs from January.
(Apart from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
