The logo of Maruti Suzuki India Limited is seen on a glass door at a showroom. The company has announced it will hike the prices of cars from January.
| Photo Credit: Reuters

Auto companies Maruti and JSW MG Motor India on Friday announced a hike in prices across car models from next month.

Maruti said in an exchange filing that the price hike will be up to 4% and vary for different models.

JSW MG Motor India has announced a hike of upto 3% across its entire product portfolio effective January. It said, “this price increase is a result of continuously rising input costs and other external factors.

Maruti Suzuki attributed the decision to for the increase in price to rising input costs and operational expenses.

“While the company continuously strives to optimise costs and minimise the impact on its customers, some portion of the increased cost may need to be passed on to the market,” Maruti Suzuki said in its statement.

Satinder Singh Bajwa, Chief Commercial Officer, JSW MG Motor India Pvt. Ltd. said, “Minor price adjustments are inevitable to offset the rising input costs. While we try to minimise its impact on our customers, a marginal price increase shields us from inflationary challenges.” 

Earlier in the week, Hyundai Motor India announced a price hike of up to ₹25,000 for all its models, also effective from next month citing similar reasons