Automakers Announce Price Hikes Amid Rising Costs

Starting April, major automakers like Maruti Suzuki, Mahindra & Mahindra, and Hyundai plan price hikes due to rising input and operational costs. Price increases will affect various models, with increases ranging from 3% to 4%, driven by factors like currency fluctuations and inflationary pressures.

Major automakers, including Maruti Suzuki, Hyundai, and Mahindra & Mahindra, have announced impending price hikes starting this April. The increases are attributed to heightened input and operational costs.

Maruti Suzuki plans to raise prices across its entire model range by up to 4%. Hyundai and Tata Motors will follow, each increasing prices by up to 3%. This marks the second price hike in the year for Tata Motors' passenger vehicles, including electric models.

The automotive industry traditionally sees price changes twice yearly, linked to fluctuating costs, rupee depreciation, and added vehicle features. While entry-level vehicles see less demand, premium segments help maintain margins, experts suggest. Despite potential demand moderation, current discounts may temper the impact.

(With inputs from agencies.)