Maruti Suzuki India announced its intention to raise the prices of its vehicle lineup come January 2024 due to mounting cost pressures attributed to the overarching inflation trends and the escalated rates of commodities. The decision to implement a price hike is a response to the financial strain faced by the company, which offers a diverse range of vehicles spanning from the affordable Alto to the premium Invicto, with prices ranging between Rs 3.54 lakh and Rs 28.42 lakh (ex-showroom Delhi).

In a regulatory filing, Maruti Suzuki India expressed its strategy to mitigate the impact of increased costs by making concerted efforts to cut expenses. Nevertheless, the company acknowledged that despite its best efforts to absorb the rise in expenses, it might need to transfer some of the additional costs to consumers. However, the precise extent of this impending price increase remains undisclosed at this stage, and the adjustment will likely fluctuate among the various models offered by the company.

Earlier on the same day, Audi, a prominent luxury car manufacturer from Germany, also revealed plans to raise the prices of its vehicles in India starting January 1, 2024. Audi cited mounting input and operational costs as the driving factors behind this decision, with the price increase anticipated to be up to 2 percent across their entire model range.

This move by both Maruti Suzuki India and Audi reflects the economic challenges faced by automobile manufacturers, necessitating price adjustments to navigate the escalating expenses associated with production and operations.'

How will the New Maruti Suzuki Swift 2024 be, should you wait for it or not?