New Delhi: Those planning to buy a car in the new year are in for a shock as Maruti Suzuki and Hyundai have announced price hikes. On December 6, Maruti Suzuki declared that it would increase car prices by up to 4% from January 2025.
Maruti Suzuki’s Announcement:
To offset rising production and operational costs, Maruti Suzuki has decided to hike prices. The exact increase will vary depending on the model. “While we are making continuous efforts to minimize the impact on customers, a part of the increased cost will have to be passed on,” the company stated.
Hyundai’s Price Hike:
This announcement comes a day after Hyundai Motor declared a price increase of up to ₹25,000 on all models starting January 1, 2025. Hyundai India’s CEO and MD Tarun Garg said, “With the continued rise in input costs, it has become essential to pass on a portion of the burden to customers through minimal price adjustments. The increase will be capped at ₹25,000 and will be applicable to all MY25 models starting January 1, 2025.”
Market Impact:
Shares of Maruti Suzuki rose by 0.58% to ₹11,246.9 as of 12:06 PM on December 6.READ THIS- Class 6 Student Dies After Fight Among Schoolmates in Delhi
Impact on Customers:
The price hikes from Maruti Suzuki and Hyundai are set to affect new car buyers significantly, making vehicle purchases in 2025 more expensive.
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