Buying a New Car? Maruti and Hyundai Price Hikes Take Effect Today – Variant-Wise Cost Changes

In case you were planning to purchase a new car this month, be prepared for the final payment being higher than you originally planned for. Two of the prominent automobile manufacturers, Maruti Suzuki and Hyundai, have introduced their fresh round of price hikes for many of their car models.

This price revision is the result of various factors like increase in input costs, rise in prices of commodities, increase in logistics cost, and technological advancements in automobiles. Though there is variation in the amount of increase from one car model to another, the new prices have now come into effect.

Why Have Maruti and Hyundai Increased Prices?

These are regular price increases aimed at covering the increased cost of production. The rising prices for steel, electronics, transport, and the need to meet safety/emission standards have been issues facing car manufacturers during the last year.

Both Maruti Suzuki and Hyundai have mentioned in their earlier statements that some of these increased costs cannot be handled anymore and hence have to be transferred to consumers. Therefore, many popular models have become more expensive starting from today.

Maruti Suzuki Models Affected

Maruti Suzuki’s latest price revision covers a wide range of vehicles across different segments.

Entry-level models such as the Alto K10 and S-Presso have received relatively smaller increases, aimed at minimizing the impact on first-time car buyers. However, the cumulative effect still raises the overall on-road cost.

Popular hatchbacks including the WagonR, Swift, and Baleno have also seen upward revisions. The exact increase varies according to the trim level, with higher variants generally witnessing larger price adjustments due to additional features and technology packages.

SUV models such as the Brezza, Fronx, Grand Vitara, and Jimny have also become more expensive. Since these vehicles occupy higher price brackets, even modest percentage increases translate into noticeable additions to the final invoice amount.

Premium offerings under the Nexa lineup have similarly experienced adjustments across multiple variants.

Hyundai Models Seeing New Prices

Revised pricing by Hyundai touches many of their popular models. While there is a small price increase in cars like the Grand i10 Nios and Exter, larger changes can be witnessed in popular models like the Venue, Creta, Verna, and Alcazar.

As one of the highest selling SUVs in India, the Hyundai Creta has undergone variant-specific changes according to engine and equipment types. Customers looking at purchasing higher versions may experience a large revision than lower variants.

Likewise, customers choosing premium models featuring ADAS features, larger infotainment system sizes, and connectivity options will experience a much higher revision because of the costlier components used.

How Much More Will Buyers Pay?

This depends significantly on the specific model or variant that the buyer selects. The variation in prices would be seen only as slight at first for entry-level hatchbacks, but the total cost increase becomes noticeable when factors like registration costs and taxes are taken into account.

The impact on midsize SUVs and premium variants is greater since even small increases in price can mean more money paid out in EMIs in the form of loan repayments.

For those who intend to make use of their loans to purchase the car, the new prices will marginally affect their monthly repayments.

Should You Delay Your Purchase?

There are many individuals who think that if they wait for some time, they will be able to save money.

However, historically, car prices have very seldom been decreasing following any such revisions. It is because several car manufacturers revise their prices at various times of the year.

Thus, waiting does not mean that people will receive good prices. What they need to do is focus on the comparison of different factors like dealership deals, exchange offers, and festive schemes.

Which Segment Is Most Affected?

It seems that the most significant effect will be observed in the small SUVS and luxury hatchbacks.

This is because in the past few years, there has been quick inclusion of technologies such as bigger touch screens, connected car techs, ADAS, multi-airbags, and advanced safety systems in these segments.

Due to increasing technology inclusion, prices also tend to go up. Therefore, buyers in these segments are bound to be affected the most.

What Existing Booking Holders Should Know

Bookings that were done before the change in price would need to contact the dealership on whether or not there is a policy for price protection.

It is possible that in some situations, customers will be allowed to go with the previous prices. On the other hand, customers might be expected to pay the new rates upon delivery. The result of this situation will depend on various factors.

Why Price Hikes Are Becoming More Frequent

The automobile market in India is witnessing rapid changes. More rigorous safety requirements, increasing localization expenses, technology advancements, electrification spending, and shifts in the global supply chain are some factors that have resulted in escalating car prices.

There is also significant investment by manufacturers in hybrid and electric cars, putting even more pressure on the pricing approach. This means that it will be routine for the industry experts to witness changes from time to time.

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Conclusion

The current Maruti Hyundai price change is going to affect a number of popular vehicles from both companies. The new prices may be different according to the variant. However, the current changes are based on various financial concerns within the industry.

For buyers who have made up their mind about purchasing one of these vehicles, knowing more about the new pricing and any additional offers that could be had at the dealerships is going to make a lot of difference in making the right choice.

If you plan to get one of the cars offered by these two brands, then the waiting period would end up costing you more than the actual purchase.