Carmakers plan price hikes in Jan as costs rise
Financial Express Mumbai|November 28, 2023
CAR BUYERS WILL have to brace for a price hike in January as manufacturers decide to pass on the rise in costs to avoid an impact on their margins.
SWARAJ BAGGONKAR

Maruti Suzuki, the country's largest carmaker, on Monday announced a possible increase in prices of its vehicles from January due to cost pressures driven by inflation and commodity prices such as steel. The maker of Baleno and Brezza, with a market share of more than 40%, said that the quantum of the hike will vary and depend on the model.

Other carmakers are following suit. Tata Motors, the country's third largest brand, confirmed that prices of its passenger vehicles, including electric vehicles, will be hiked in January.

"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," a Tata Motors spokesperson said.

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