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Inflation and Rising Commodity Prices: The Force Behind Maruti Suzuki's Price Increase
Indian automobile giant, Maruti Suzuki, has announced a price hike across its vehicle range starting January 2024. The decision is driven by increased cost pressure due to inflation and rising commodity prices.
The company offers a wide spectrum of vehicles, from the entry-level hatchback Alto to the multi-utility vehicle Invicto, with prices ranging from INR 3.54 lakh to INR 28.52 lakh (ex-showroom Delhi).
Model-Specific Price Increase
The forthcoming price revision will be model-specific, affecting vehicles across their product lineup. While the exact percentage of the increase has not been specified, the company has previously announced a price hike averaging around 1.1% across its vehicle range in January 2023.
This move is similar to the decision made on April 1 of the same year when the company elevated prices across all its models.
Audi Follows Suit
In a related development, German luxury car manufacturer Audi has also declared a price increase of up to 2% for its vehicles in India starting January next year. Audi's decision is attributed to the escalating input and operational costs in the market.
In the face of inflation and rising commodity prices, car manufacturers are left with little choice but to pass on some of the cost to the consumer.
The price increase by Maruti Suzuki and Audi is a testament to the challenging market conditions. Car buyers in India should prepare for these changes as they plan their purchases in the new year.
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