Mahindra, JSW MG Motor hike prices by up to 3% from January

Mahindra & Mahindra (M&M) has announces a price increase for its sport-utility vehicles (SUV) and commercial vehicles (CV) by up to 3%, effective January 2025. This adjustment is in response to the rising costs due to inflation and increased commodity prices, the automaker says in a statement. “Mahindra has made efforts to absorb as much of these additional costs as possible. However, a portion of this increase will need to be passed on to customers. The extent of the price increase across different SUVs and commercial vehicles will be up to 3%,” the company says.

JSW MG Motor India also announced a price hike of up to 3% across its entire product portfolio effective January 2025. This price increase is a result of continuously rising input costs and other external factors, the SAIC Motor-backed company says. “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,” says Satinder Singh Bajwa, chief commercial officer, JSW MG Motor India.

These price hikes come hours after India’s biggest carmaker Maruti Suzuki India Ltd said it has planned to increase the prices of its cars from January 2025 owning to rising input costs and operational expenses. Maruti said 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 said. On Thursday, 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.