Wednesday, 18 December 2024
Wednesday, 18 December 2024
Car enthusiasts and buyers might feel the pinch of rising prices before they even hit the roads starting January 2025 next as leading automakers in India have announced price hikes across their model ranges. Car manufacturers said the hikes will range from 3 to 4 per cent, because of rising input costs, inflation, and increased logistics expenses.
Here’s a look at the prominent brands and their updated pricing strategies.
Maruti Suzuki India
Maruti Suzuki India, the country’s largest carmaker, said it will increase the prices of its model range by up to 4 per cent from January. The price hike is because of rising input costs and operational expenses.
While the increase will vary depending on the model, the company stated that some of the increased costs would have to be passed on to customers. Maruti Suzuki offers a diverse lineup of cars under its Nexa and Arena brands, featuring models such as the Swift, Dzire, WagonR, Alto K10, S-Presso, Ertiga, Celerio, Eeco, and Ignis, as well as the Jimny, Grand Vitara, Fronx, Baleno, Ciaz, XL6, and Invicto.
Hyundai Motor India
Hyundai Motor India also revealed that it will increase prices by up to ₹25,000 across its vehicle range. The company attributed the price hike to rising input costs, adverse exchange rates, and increased logistics costs. Hyundai’s price increase will impact all its 2025 models, with the company stating the adjustments were unavoidable because of the sustained increase in operational expenses. Hyundai will raise prices across all its 2025 models, including the Tucson and i20.
Mahindra & Mahindra
Mahindra & Mahindra also confirmed a price hike of up to 3 per cent on its SUV models and commercial vehicles. The automaker explained this adjustment is necessary because of inflation and increased commodity prices. Mahindra stated that, despite efforts to absorb some costs, they would pass a portion onto the consumer. The 3 per cent price increase will apply across various SUV and commercial vehicle models.
JSW MG Motor India
JSW MG Motor India has announced a price hike of up to 3 per cent across its entire model range starting in January. The company cited rising input costs and external economic factors as the reason behind the decision. According to Satinder Bajwa Singh, Chief Commercial Officer of JSW MG Motor India, the price increase, although minimal, is a necessary step to shield the company from inflationary pressures while maintaining its commitment to quality and innovation.
Luxury Automakers
Luxury car enthusiasts will also need to brace for price hikes in 2025. Leading brands like Mercedes-Benz, BMW, and Audi have already announced increases in their vehicle prices, effective from January. The adjustments are attributed to similar challenges, including inflation and rising operational costs, as premium automakers face mounting financial pressures globally.
