New Delhi: Major car makers in India such as Tata Motors, Maruti Suzuki including German luxury car maker Audi are mulling over price hikes for their vehicles in January 2024.
Tata Motors spokesperson said, “We are considering a price hike across our passenger and electric vehicles in January 2024. The extent of the hike and exact details will be announced in a few weeks.”
Similarly, Maruti Suzuki on the same day announced that it would hike the prices of its cars from January next year. Maruti Suzuki has informed the stock exchanges that it has decided to increase car prices due to increased input costs.
Maruti Suzuki notified that the price rise will vary across models. However, it did not specify the exact amount of the hike that is on the cards. Earlier in April this year, Maruti Suzuki had gone for a price hike across all models.
Mahindra and Mahindra CEO (Automotive Division) Nalinikanth Gollagunta said in that based on the inflation and commodity prices outlook, “we intend to take a price increase for our automotive products effective January 2024. The details for which will be announced closer to the time, he said in a statement.
Meanwhile, German luxury car maker Audi has also said that it will inflate the 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.
PNN & Agencies