Cars to cost more: Mahindra joins Maruti Suzuki, Hyundai Motor in 2025 price hike move

Brace yourselves, car buyers. Mahindra & Mahindra (M&M) has joined the growing list of automakers planning to increase vehicle prices from January 2025. The company on Friday announced that prices for its SUVs and commercial vehicles will go up by up to 3% due to rising costs.

The adjustment is in response to the rising costs due to inflation and increased commodity prices, Mahindra & Mahindra (M&M) said in a statement.

The automaker 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, it added.

Meanwhile, Maruti Suzuki, the country’s largest carmaker, said it will raise prices by up to 4% from the new year.

“The price increase is expected to be up to 4% and will vary depending on the model. While the company continuously strives to optimize costs and minimize the impact on its customers, some portion of the increased cost may need to be passed on to the market,” the company said in a regulatory filing.

JSW MG Motor India has also joined the fray, announcing an increase of up to 3% for its vehicles next month.

"Our dedication to quality, innovation and sustainability remains a priority and drives us to improve our offerings continuously. In doing so, minor price adjustments are inevitable to offset the rising input costs," JSW MG Motor India Chief Commercial Officer Satinder Singh Bajwa said.

The Indian automotive sector has been grappling with rising raw material prices and logistical expenses.

Various luxury automakers Mercedes-Benz, BMW and Audi have also announced to hike vehicle prices from next month.