Maruti Suzuki to Increase Vehicle Prices by Up to ₹30,000 Starting June
Maruti to raise prices by up to Rs 30k from June
Image: The Times Of India
Maruti Suzuki, India's largest car manufacturer, will raise vehicle prices by up to ₹30,000 from June due to rising inflation and increased input costs. This price hike reflects the broader trend in the automotive industry, where several manufacturers are also adjusting their pricing strategies amid ongoing cost pressures.
- 01The price increase will vary by model, affecting both entry-level and premium vehicles.
- 02Maruti Suzuki's decision follows similar price hikes by Hyundai Motor India, Tata Motors, and MG Motor earlier this year.
- 03The automotive industry is facing challenges from rising commodity prices, logistics costs, and global supply chain disruptions.
- 04Despite increasing ownership costs, demand for passenger vehicles in India remains strong, particularly for SUVs.
- 05Maruti Suzuki continues to lead the market with several best-selling models amid a recovery in consumer sentiment.
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Maruti Suzuki, the largest car manufacturer in India, announced a price increase of up to ₹30,000 across its vehicle lineup effective from June. This decision is driven by persistent inflation and rising input costs, which have made it necessary to revise prices. The company noted that it has been implementing internal cost-control measures to mitigate the impact of these rising costs but found the situation untenable. The exact price increase will depend on the specific model, with Maruti's offerings ranging from the budget-friendly S-Presso to the premium Invicto MPV.
This price hike comes amidst a broader trend in the automotive sector, with competitors like Hyundai Motor India, Tata Motors, and MG Motor having already raised prices in recent months. Rising costs of steel, aluminum, and energy, compounded by global supply chain disruptions, have pressured manufacturers to adjust their pricing strategies. Despite these challenges, the demand for passenger vehicles in India remains robust, particularly in the SUV segment, supported by improving rural sentiment and easier financing options. Analysts suggest that consumer sentiment is recovering, aided by GST relief measures and ongoing infrastructure investments.
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The price increase will affect consumers looking to purchase new vehicles, potentially leading to higher ownership costs.
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