After Hyundai Motor India, India's largest car maker Maruti Suzuki has also decided to increase car prices from next month. This increase will be up to 4% on all models of the company's lineup. The increased rates will be applicable from January 1, 2025.
Suzuki gave this information in an exchange filing on Friday (December 6). A day earlier on Thursday (December 5), Hyundai Motor India Limited had also announced to increase the prices of all its models by Rs 25,000 from the new year.
Mercedes Benz, BMW and Audi cars will also be expensive
Apart from both the Indian companies, Mercedes-Benz, BMW and Audi doing business in India have also announced price hikes from the new year. All the companies have given the same reason behind increasing the prices. Companies have taken such a decision due to increase in input costs and logistics.
Maruti Suzuki is India's largest car company.
Maruti Suzuki is India's largest car company in terms of market share. It has 40% share in the Indian market. The company sold 1.44 lakh cars in November 2024. There has been an increase of 7.46% on annual basis.
In the same period last year, the company had sold 1.34 lakh cars in the domestic market. In the utility vehicle segment, there has been an annual growth of about 17% in the sales of SUVs including Brezza, Frock, Grand Vitara.
Maruti Suzuki profits of ₹3,069 crore in the second quarter
Maruti Suzuki has made a profit (standalone net profit) of Rs 3,069 crore in the second quarter (July-September) of the financial year 2024-25. There has been a decline of 17% on annual basis (YoY). In the July-September quarter a year ago, the company had made a profit of Rs 3717 crore.
The company's operational revenue in the July-September quarter stood at Rs 37,203 crore. In July-September 2023, the company had generated revenue of Rs 37,062 crore. There was a slight increase of 0.37% on annual basis. Earning from selling goods and services is called revenue.
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Hyundai cars will become costlier by ₹ 25,000 from the new year: The company announced to increase prices due to increase in costs.
Hyundai vehicles will become costlier by Rs 25,000 from the new year. The company has decided to increase the prices due to increase in input costs, exchange rates and logistics. The increased rates will be applicable on all models of the company from January 1, 2025.
Tarun Garg, Whole-Time Director and Chief Operating Officer, Hyundai Motor India Limited (HMIL), said, 'Our endeavor at the company has always been to absorb the rising costs as much as possible, so that our customers are not impacted. However, due to continuous increase in input costs, it has become necessary to make minor adjustments in prices.
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