After Hyundai, Suzuki also announced to increase car prices in the new year.

Car Price Hike: Maruti Suzuki India is going to increase the prices of its cars by up to 4 percent from January 2025 depending on the variant. Hyundai Motor India has also announced to increase the prices of its vehicles by up to Rs 25,000 from January 1

Maruti Suzuki Car Price Hike: Auto sector major Maruti Suzuki India is going to increase the prices of its cars by up to 4 percent from January 2025 depending on the variant. "Maruti will increase car prices by up to 4% from January 2025 depending on the variant.

Suzuki India has said in the information given to the stock market that in view of the rising cost of raw materials and operating expenses, the company plans to increase the prices of its cars from January 2025. The price increase is expected to be up to four per cent and will vary depending on the model.

"While the company continually strives to optimise costs and minimise the impact on its customers, some part of the increased costs may have to be passed on to the market," it added.

Hyundai hikes prices by up to Rs 25,000

Hyundai Motor India has also announced to increase the prices of its vehicles by up to Rs 25,000 from January 1. Hyundai Motor India Limited (HMIL) has announced that the prices of different models of their cars will be increased from 1 January 2025. Various luxury vehicle manufacturers such as Mercedes-Benz, BMW and Audi have already announced to increase prices of their vehicles from next month to offset rising input costs.

Impact of rising global commodity prices

In fact, Indian automakers are struggling with high costs due to rising global commodity prices, high import duties on raw materials and disruptions in the supply chain. That's why companies are raising prices. Tata Motors has increased the prices of its commercial vehicles twice during this financial year.

Then, in November, German automotive giant BMW Motorrad announced a price hike across its entire model range in India. From January 1, 2025, prices will increase by up to 2.5 percent.