New Delhi: As India’s financial year 2024-2025 comes to a close, several major car manufacturers are bracing for a new era of pricing, with Maruti Suzuki, Mahindra, Hyundai, and others set to increase vehicle prices starting April 1, 2025. This move marks the latest in a series of price hikes as the industry grapples with rising input costs and inflationary pressures.
Across the board, these price hikes are primarily driven by increasing operational and raw material costs. Maruti Suzuki leads the charge with a significant price increase of up to 4% across its popular models like the Baleno, Alto K10, and Swift. This marks a strategic attempt to balance profitability amidst high operational expenses.
Tata Motors follows suit by announcing a price increase of up to 3% for models including the Nexon, Tiago, and their electric versions. This marks their second price hike this year, underscoring the challenges faced in maintaining profitability.
Mahindra joins the fray with a planned price hike of up to 3% for its SUVs like the Thar Roxx and Scorpio N, further solidifying industry-wide moves to mitigate rising costs.
Kia and Hyundai mirror each other with a similar 3% price hike affecting models like the Sonet, Seltos, Creta, and Grand i10 NIOS. This demonstrates how global factors, such as increased costs of raw materials, are impacting pricing strategies across brands.
Finally, Honda and Renault also plan price adjustments, with Renault specifying an increase of up to 2%. These moves underscore the ongoing struggle for automakers to balance costs and consumer affordability.
As these brands look ahead, they rely on the dual strategy of adjusting prices and managing inventory through discounts to minimize the impact on demand. With consumer behavior pivoting on price sensitivity, maintaining a balance between profitability and market demand will be crucial in the months to come.
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