Our Bureau

New Delhi, December 6

After a day of Hyundai Motor India (HMIL) announcing price increase in its vehicles from January, country’s largest passenger cars maker Maruti Suzuki India (MSIL), Mahindra & Mahindra (M&M) and JSW MG Motor India on Friday have also said that they will hike prices effective January 1.

MSIL said it increase the prices by up to four per cent, due to rising input costs and operational expenses.

“In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from January, 2025. The price increase is expected to be up to four per cent and will vary depending on the model,” MSIL said.

The company added that while it continuously ‘strives to optimise costs and minimise the impact on its customers’, some portion of the increased cost may need to be passed on to the market.

Similarly, M&M said rising costs due to inflation and increased commodity prices, a portion of this increase will need to be passed on to customers across different SUVs and commercial vehicles, which will be up to three per cent.

JSW MG Motor India also said its price hike of up to three per cent across its entire product portfolio will be effective January 2025. “Our dedication to quality, innovation and sustainability remains a priority and drives us to improve our offerings continuously. In doing so, minor price adjustments are inevitable to offset the rising input costs. While we try to minimise its impact on our customers, a marginal price increase shields us from inflationary challenges,” Satinder Singh Bajwa, Chief Commercial Officer, JSW MG Motor India, said.

HMIL on Thursday announced that it will increase prices across its model range effective from January 1, 2025 and the price increase has been necessitated owing to an increase in input costs, adverse exchange rate and increase in logistics costs.

This price increase will be done across models and the extent of increase will be up to ₹25,000 the company had said.

“...with the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment,” Tarun Garg, Whole-time Director and Chief Operating Officer, HMIL, said.

In the luxury vehicles segment, Audi India and BMW India had also announced price hikes up to three per cent, due to the rising input costs.

“We are implementing a price adjustment of up to three per cent effective from January 1, 2025 due to rising input costs. This correction is essential for Audi India and our dealer partners to ensure sustainable growth. We remain committed to minimising the impact of the price hike on our valued customers,” Balbir Singh Dhillon, Head of Audi India, said.

Meanwhile, the two-wheeler arm of BMW Group – BMW Motorrad India also said it will increase prices by up to 2.5 per cent across the model range from January.

Electric two-wheeler maker, Ultraviolette also announced a price revision for select variants of its flagship model, the F77 MACH 2 by up to five per cent.

However, leading two-wheeler manufacturers like Hero MotoCorp, Honda Motorcycle & Scooter India, TVS Motor Company and Bajaj Auto have not announced any price hike yet.

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Published on December 6, 2024