Maruti, Tata Motors set to hike car prices

New Delhi: Automobile majors have announced price hike owing to rising input costs. Luxury carmaker Audi, Maruti Suzuki India and Tata Motors (TaMo)on Monday said they plan to increase prices of vehicles from January 2024. They said cost pressure driven by overall inflation and increased commodity rates.

Maruti Suzuki, which sells a range of vehicles from entry-level small car Alto to multi-utility vehicle Invicto, priced between Rs3.54 lakh and Rs28.42 lakh (ex-showroom Delhi), however, did not specify the quantum of the proposed price hike. Tata Motors, which sells a range of passenger vehicles starting with hatchback Tiago to premium SUV Safari priced between Rs 5.6 lakh and Rs 25.94 lakh, however, did not specify the quantum of the proposed hike. “We are considering a price hike across our passenger and electric vehicles in January 2024. The extent of the hike and exact details will be announced in a few weeks,” a Tata Motors spokesperson said.German luxury car maker Audi said it will hike prices of its vehicles in India by up to 2 per cent from January next year, citing rising input and operational costs. The price hike will be effective from January 1, 2024 and will be across the model range, Audi India said in a statement.

“The company has planned to increase the prices of its cars in January2024 on account of increased cost pressure driven by overall inflation and increased commodity prices,” Maruti Suzuki India said in a regulatory filing. It further said, “While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market. This price increase shall vary across models.”