New Delhi, Nov 28 (KNN) India’s major passenger vehicle-maker, Maruti Suzuki India (MSIL) along with Tata Motors, Audi India, and Mercedes-Benz India said on Monday that they are planning to increase the prices from January 2024 because of the increased cost pressure.

Maruti Suzuki did not reveal the quantum of price hikes but has indicated it will vary across models. 

“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,” it said in a regulatory filing.

This is the second time MSIL is increasing the price in the current financial year, the first being in April, when it announced a 0.8 per cent hike on ex-showroom process of its models.

A Tata Motors spokesperson told businessline, “We are considering a price hike across our passenger and electric vehicle in January 2024. The extent of the hike and exact details will be announced in a few weeks.”

Citing rising input and operational costs as the reasons, Luxury car-maker Audi India announced an increase of up to 2 per cent across its models effective from January 1, 2024.

(KNN Bureau)