Maruti Suzuki India and Tata Motors announced on Monday that they will increase vehicle prices from April. This marks the second price hike this year, as companies attempt to offset the rising cost of raw materials.
Maruti Suzuki stated that it will raise the prices of all its models by up to 4%. Meanwhile, Tata Motors announced a 2% price increase on its commercial vehicles starting next month.
In a regulatory filing, Maruti Suzuki India cited the rising cost of raw materials and operational expenses as the reason behind this decision. The price hike will vary depending on the model.
Earlier this year, Maruti Suzuki had increased prices by up to ₹32,500 from February 1.
A Honda Cars India spokesperson also mentioned that the company is considering a price increase from next month.