Planning to Buy a Car in 2025? Brace Yourself for Price Hikes by Maruti Suzuki, Hyundai, Mahindra & More Starting January
11 Dec 2024
3 min read
Are you planning to buy a car in 2025? Then, this is the right time to pay full consideration to the price hikes that have already been announced by most of the leading car manufacturers in India, such as Maruti Suzuki, Hyundai, Mahindra, MG Motor, and high-end luxury automobile brands like Mercedes-Benz and BMW. Here is all about what drives this change and how it is likely to change your purchasing plans.
Key Details About the Price Hike
- Maruti Suzuki: The largest car manufacturer in India has announced its plan of increasing prices by a maximum of 4% on all their models starting January 2025. This change is due to input price inflation and rise in operating costs.
- Hyundai: Hyundai plans to raise prices by up to ₹25,000 on models in its 2025 lineup. This increase stems from sustained rises in input costs and logistics expenses. Hyundai vehicles, known for their reliability, will still require regular vehicle services to ensure peak performance despite the price adjustments.
- Tata Motors: Tata Motors will also increase prices across the entire passenger vehicle portfolio from January 2025. The Gradual rise of input costs and inflation is shared by the company as the cause of this revision against the ongoing models like Nexon and Harrier.
- Mahindra & Mahindra: The price hikes will be up to 3% for the customers getting Mahindra SUVs. The hike is due to pressures of inflation and high commodity prices but the company has borne quite a lot of costs to avoid passing them to customers.
- MG Motor: Prices for MG’s product lineup, including popular models like the Hector and Gloster, will go up by up to 3%, citing the need to offset rising production and logistics costs.
- Luxury Brands: Price correction up to 3% has been announced by Mercedes-Benz and BMW too. Models from Mercedes-Benz like GLC and Maybach S 680 are likely to see a price hike of between ₹2 lakh to ₹9 lakh.
Check: Top 6 Upcoming Cars in India: December 2024
Reasons for the Price Hike
Carmakers have given numerous reasons for the hike in the prices:
- Rising Input Costs: Escalating material and commodity prices, including steel and aluminum.
- Logistics Costs: Increased cost of transportation due to worldwide disruption of the supply chain.
- Currency Exchange Rates: Unfavorable fluctuations that increase the cost of imports for some parts and materials.
- Inflation: Overall increase in costs, affecting production and operating costs.
How This Affects Car Buyers
- Higher Upfront Costs: If you plan to buy a new car, now is the time to do so before the price hike comes into effect in January 2025.
- Pre-Booking Offers: Some brands, like Mercedes-Benz, are offering price protection for cars booked before the end of 2024.
- Impact on Loan EMIs: A higher car price may increase your down payment and monthly EMI if you plan to finance the purchase.
Know: Received a Wrong Traffic Challan? Here’s How to File a Complaint
Tips for Potential Buyers
- Book Early: Finalize your purchase before the year ends to lock in 2024 pricing.
- Compare Models: Evaluate the cost-effectiveness of different models, especially those less impacted by the hike.
- Consider Pre-Owned Cars: With new car prices rising, pre-owned vehicles may offer better value for money.
- Look for Year-End Discounts: Many automakers offer promotional deals in December, which could offset some of the upcoming price hike.
Conclusion
The price hikes announced for January 2025 underscore the importance of timing and strategic decision-making for car buyers. Whether it’s a compact Maruti Suzuki hatchback, a feature-rich Hyundai SUV, or a luxury Mercedes-Benz sedan, understanding these adjustments and acting proactively can help you secure the best deal.
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