After Hyundai announced price hike, now Maruti says it will increase car prices by 4%

In light of rising input costs and operational expenses, Maruti Suzuki has planned to increase the prices of its cars from January 2025. The price increase is expected to be up to 4% and will vary depending on the model.

Maruti Suzuki posted a decline in its net profit in the second quarter (Q2) of fiscal year 2025. According to the quarterly earnings, Maruti Suzuki reported a decline of 17.4 percent in its profit in Q2 FY25. The auto major posted a standalone profit of Rs 3,069 crore compared to Rs 3,716 crore in the corresponding quarter last fiscal year.

The company's consolidated revenue from operations remained flat at Rs 37,449 crore in Q2 year-on-year.

Every year in January, automakers hike prices.

Hyundai Motor India Limited announced that it will increase prices across its model range effective from January 1, 2025, due to a rise in input costs, adverse exchange rates, and an increase in logistics costs.

According to the company, the price hike will be done across all MY25 models, such as Tucson and i30 Sedan, up to Rs 25,000 from next year.

Hyundai's total sales declined 7 per cent year-on-year to 61,252 units in November. HMIL reported total sales of 61,252 units in November 2024, comprising 48,246 domestic sales and 13,006 exports.

Last month, Mercedes-Benz India (MBI) announced a price hike of up to 3 percent for its entire model range, effective from January 2025.

Mercedes-Benz India CEO Santosh Iyer has strongly pitched to boost India's auto exports. During the CNBCTV18 Global Leadership Summit, Iyer appreciated the "Make in India" initiative but added, "We want to ensure that cars from India can go out". He suggested a policy that focuses not just on "Make for India" but "Make for the world" as well.

"For India, it is important to strike more deals to get the borders open and compete globally," Iyer had said.

Read More:Hyundai to hike car prices from Jan 1