Maruti Suzuki India Ltd on Friday said it has planned to increase the prices of its cars from January 2025 owning to rising input costs and operational expenses. The price increase is expected to be up to 4% and will vary depending on the model.

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, the Japanese carmaker says.

This comes a day after Hyundai Motor India Ltd announced that it will increase prices across its model range effective from January 1, 2025. The price increase has been necessitated owing to an increase in input costs, adverse exchange rate and increase in logistics costs, the South Korean carmaker said, adding that the price increase will be done across models and the extent of increase will be up to ₹25,000.

“With the sustained increase in input cost, it has now become imperative to pass on a part of this cost escalation through a minor price adjustment,” said Tarun Garg, whole-time director and chief operating officer, HMIL.

Domestic passenger vehicle wholesales of Maruti Suzuki rose 5.3% year-on-year to 1.41 lakh units in November compared with 1.34 lakh units in the corresponding month last year. Maruti Suzuki’s car wholesales – dispatches from the factory to dealerships – declined 2.5% year-on-year to 11.45 lakh units in the first eight months of the ongoing financial year owing to a high base in the previous fiscal.