Maruti Suzuki to Hike Prices from January 2024: Impact on Consumer Demand and Market Trends
Maruti Suzuki, India’s largest carmaker, has announced a price hike for its vehicles, effective January 2024. This decision comes amidst rising inflation and commodity costs, which have put significant pressure on automakers across the globe. The extent of the price increase will vary across models, but it is expected to have a noticeable impact on consumer demand and market trends. Factors Driving the Price Hike The primary factors driving the price hike include: Impact on Consumer Demand The price hike is likely to have a dampening effect on consumer demand for new cars. With higher prices, consumers may be more …