BUSINESS

The Reason Behind Maruti Suzuki India’s January 2024 Price Increase

Maruti Suzuki India said that it will increase the pricing of its array of vehicles starting in January 2024 as a result of growing cost pressures brought on by general inflation trends and rising commodity costs. The firm, which provides a wide variety of automobiles from the entry-level Alto to the high-end Invicto, with prices ranging between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi), decided to adopt a price raise in reaction to the financial burden it is under.

Maruti Suzuki India outlined its approach to lessen the effects of rising costs by working together to reduce spending in a regulatory filing. However, the business admitted that even with its greatest efforts to absorb the increase in costs, it could have to pass along part of the higher prices to customers. But the exact amount of this upcoming price rise is still unknown at this point, and it will probably vary depending on which of the company’s models you choose.

Earlier that day, well-known German luxury automobile maker Audi announced plans to increase the cost of its cars in India beginning on January 1, 2024. Audi justified this move by citing rising input and operating expenses; the price rise is expected to be as much as 2 percent for the full range of models.

This action by Audi and Maruti Suzuki India is a reflection of the financial difficulties that automakers are facing and the need to alter prices in order to cover the rising costs of operations and manufacturing.

 

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