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Maruti Suzuki, India's largest car manufacturer, has announced a price hike of up to 4per cent on its vehicles, effective April 2025.
According to Maruti Suzuki, the company cited rising input costs and operational expenses as the primary reasons for this decision. The price increase will vary across different models. While Maruti Suzuki continuously works on optimizing costs to minimize the impact on consumers, the company stated that a portion of the increased expenses would need to be passed on to the market. This move comes as automakers across the industry face inflationary pressures, supply chain disruptions, and fluctuating raw material costs. Maruti Suzuki remains the dominant player in the Indian automobile market, holding a 41.6 per cent market share in 2024. The company continues to lead ahead of competitors Hyundai and Tata Motors, who are in a close race for the second position. The Indian automotive industry has been expanding rapidly, making India the third-largest country globally in automobile sales and the fourth-largest in automobile production. Japanese brands like Suzuki, along with Indian manufacturers such as Tata Motors and Mahindra, and Korean brands like Hyundai and Kia, dominate the Indian car market. In 2024, Maruti Suzuki, Tata Motors, Hyundai, and Mahindra collectively held 80 per cent of the market, leaving the remaining 20 per cent divided among 10 other carmakers. Notably, Maruti Suzuki remains the only manufacturer with a market share exceeding 40per cent. Hyundai, Tata, and Mahindra each hold a market share between 10 per cent and 15 per cent, while Toyota and Kia fall within the 5 per cent-10 per cent range. The bottom seven car brands in India each hold approximately 1 per cent of the market, highlighting the overwhelming influence of top manufacturers. As the Indian automotive sector continues to evolve, Maruti Suzuki's price revision reflects broader industry trends, where cost pressures are compelling manufacturers to adjust pricing strategies. Despite the increase, Maruti remains committed to offering value-driven products and maintaining its leadership in the Indian car market. (ANI)
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