NEW DELHI, Nov 27: Marti Suzuki India on Monday said it plans
to increase prices of its vehicles in January 2024, citing cost
pressure driven by overall inflation and increased commodity
rates.
The company, which sells a range of vehicles from entry-level
small car Alto to multi-utility vehicle Invicto, priced between Rs
3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi), however, did
not specify the quantum of the proposed price hike.
“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,” 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.”
Earlier in the day, 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. (PTI)
