The nation’s largest carmaker Maruti Suzuki India on Monday stated it is going to improve automobile costs in January 2024, citing value strain pushed by the general inflationary setting and elevated commodity charges.
The corporate — which sells a spread of autos from entry-level small automobile Alto to multi-utility automobile 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 Government Officer (Advertising and marketing and Gross sales) Shashank Srivastava stated the worth hike would differ from mannequin to mannequin and in some, it will likely be “substantial”.
“There may be an inflationary strain throughout, together with volatility in commodities, so that’s the reason now we have determined to extend the costs in January,” he famous.
MSI had final hiked costs by 0.8 per cent in April this yr. It had hiked a complete improve 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 go on some improve to the market. This worth improve shall differ throughout fashions”.
German luxurious carmaker Audi stated it is going to hike costs of its autos in India by as much as 2 per cent from January subsequent yr, citing rising enter and operational prices.
The value hike will probably be efficient from January 1, 2024, and will probably be throughout the mannequin vary, Audi India stated in an announcement.
When contacted, Mercedes-Benz India famous that it is usually mulling to hike costs from January.
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