After Maruti, Tata Motors and Kia India announce price hikes effective from January 2025
Tata Motors will increase prices of its passenger vehicles, including electric models, by up to three percent starting January 2025 to counter rising input costs. Kia India will also raise prices by two percent for its models, effective January 1, 2025, due to higher commodity costs.
Indian automaker Tata Motors has announced a price increase across its passenger vehicle portfolio, including electric vehicles, effective January 2025. The company stated that the hike, which will vary depending on the model and variant, is necessary to offset rising input costs and inflation. Prices will rise by up to three per cent, as per a statement from the Mumbai-based manufacturer.
Tata Motors, known for its range of models from the Tiago hatchback to SUVs like the Harrier and Safari, said the adjustment is aimed at partially mitigating escalating production costs.
Kia India has also declared a price hike for its entire model range, including popular vehicles like the Seltos and Sonet. The South Korean automaker will implement a two per cent increase from January 1, 2025, citing the impact of higher commodity prices and supply chain costs.
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According to Kia India's Senior Vice President for Sales and Marketing, Hardeep Singh Brar, the company has absorbed a significant portion of the rising costs to minimise the financial burden on its customers.
Other leading automakers are following suit. Market leader Maruti Suzuki will raise vehicle prices by up to four per cent, attributing the increase to higher input costs and operational expenses. Rival Hyundai Motor India plans to hike prices by up to ₹25,000 across its model range, including the Verna and Creta, due to inflationary pressures, adverse exchange rates, and rising logistics costs.
Mahindra & Mahindra, another key player in the SUV and commercial vehicle segments, has confirmed a price rise of up to three per cent from January. Similarly, MG Motor India, under the JSW Group, will increase prices across its models by up to three per cent.
The widespread price hikes reflect the industry’s struggle to absorb rising costs while balancing customer affordability. These adjustments, effective January, underscore a challenging economic environment for automakers and consumers alike.
(With inputs from PTI)
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Business NewsAuto NewsAfter Maruti, Tata Motors and Kia India announce price hikes effective from January 2025
First Published:9 Dec 2024, 07:09 PM IST
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