The nation’s largest carmaker Maruti Suzuki India on Monday stated it’ll enhance car costs in January 2024, citing value strain pushed by the general inflationary atmosphere and elevated commodity charges.
The corporate — which sells a variety of automobiles from entry-level small automobile 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 worth hike.
In an interplay with PTI, Maruti Suzuki India (MSI) Senior Govt Officer (Advertising and marketing and Gross sales) Shashank Srivastava stated the worth hike would range from mannequin to mannequin and in some, it is going to be “substantial”.
“There may be an inflationary strain throughout, together with volatility in commodities, so that’s the reason we have now 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 enhance of two.4 per cent within the final fiscal.
“There isn’t any selection left for us now however to reinforce the costs…we’re but to determine the precise quantum of the rise,” Srivastava stated.
Earlier in a regulatory submitting, MSI said that the corporate has deliberate to extend the costs of its automobiles in January 2024 on account of elevated value strain pushed by general inflation and elevated commodity costs.
It additional stated, “Whereas the corporate makes most efforts to scale back value and offset the rise, it could must move on some enhance to the market. This worth enhance shall range throughout fashions”.
German luxurious carmaker Audi stated it’ll hike costs of its automobiles in India by as much as 2 per cent from January subsequent 12 months, citing rising enter and operational prices.
The worth hike will probably be efficient from January 1, 2024, and will probably be throughout the mannequin vary, Audi India stated in a press release.
When contacted, Mercedes-Benz India famous that additionally it is mulling to hike costs from January.
(Apart from the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)
