Stellantis India on Tuesday said that it plans to hike prices of certain models of Jeep and Citroen by up to 2% from January.
With the price increase, the company aims to offset the impact of rising input costs. The move will also ensure sustainable operations in line with the industry, the company's press release stated.
Even as Stellantis India's Managing Director and Chief Executive Officer Shailesh Hazela said that “the price revision is necessitated by increasing input costs and exchange rates”, he added that “we stand steadfast in our commitment to continue to be focused on providing value, high quality, and a great driving experience to its customers”.
The trend is line with price increases undertaken by other automobile makers in India.
Just last week, Hinduja group flagship Ashok Leyland Ltd. had announced that it will be hiking prices of its commercial vehicles by up to 3% on its entire range from Jan. 2025, to partially offset the impact of inflation and higher commodity prices. Its statement had said that all products across the range will be affected.
Tata Motors Ltd. has also said that it will increase prices of its trucks and buses portfolio by up to 2% and that it will be effective from Jan. 1, 2025. In its press release, Tata Motors had pointed out that it was raising the prices so as "to offset the rise in input costs".
Other automobile makers which have announced price hikes from January include Maruti Suzuki India Ltd. and Hyundai Motor India Ltd.
Indian subsidiaries of luxury carmakers Mercedes-Benz, BMW and Audi have also indicated that they will increase prices in January.
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