Maruti Suzuki India and Tata Motors on Monday announced plans to increase vehicle prices from April, the second time in this year, in order to partially offset the impact of rising input costs.
Maruti Suzuki said it plans to hike prices of its entire model range by up to 4 per cent from next month.
Tata Motors said it will increase the price of its commercial vehicle range by up to 2 per cent from next month.
In light of rising input costs and operational expenses, the company has planned to increase the prices of its cars from April, Maruti Suzuki India said in a regulatory filing.
The price increase is expected to be up to 4 per cent and will vary depending on the model, it added.
While the company 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, the country's largest carmaker stated.
Maruti Suzuki currently sells various models ranging from the entry-level Alto K-10 to multiple-purpose vehicle Invicto in the domestic market, with price ranging from Rs 4.23 lakh and Rs 29.22 lakh respectively (ex-showroom Delhi).
In January this year, the company announced to hike prices by up to Rs 32,500 across various models from February 1.
Maruti Suzuki India shares ended 0.24 per cent up at Rs 11,536.10 apiece on BSE.
A Honda Cars India spokesperson said that the automaker is also looking to increase vehicle prices from next month.
Tata Motors said it will increase prices of its commercial vehicle range by up to 2 per cent from April in order to partially offset the impact of rising input costs.
The prices of the company's commercial vehicle range will increase by up to 2 per cent from April 1, 2025, the Mumbai-based auto major said in a regulatory filing.
The price increase is to offset the rise in input costs, and will vary as per individual model and variant, it added.
A Hyundai Motor India spokesperson declined to comment when asked whether the company is also planning a price hike.
Shares of Tata Motors on Monday ended 0.84 per cent up at Rs 660.90 apiece on BSE.
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