Maruti Suzuki India on January 16 said it has increased prices of its entire model range with immediate effect.An estimated weighted average of increase across models is 0.45%, the auto major said in a regulatory filing.

This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from January 16, 2024, it added

The carmaker, in a regulatory filing, said, "An estimated weighted average of increase across models stands at around 0.45%. This indicative figure is calculated using Ex Showroom prices of models in Delhi and will come into effect from January 16, 2024."

This comes after the company had intimated last year that it would hike prices in January 2024. However, it had not specified the quantum of hike then. "The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices," the company had said in a regulatory filing on November 27.

Notably, a day before, Volvo Car India announced a price increase of its conventional engine vehicles by 2 per cent. The luxury car maker, however, has decided to keep the prices of its electric vehicles unchanged.

"We are focused on sustainable luxury e-mobility and have committed that we will be an all-electric company by 2030. We encourage the adoption of EVs and, as part of this endeavour, have decided that as of now, we will hold the prices of our EVs despite rising forex and input costs," Volvo Car India managing director Jyoti Malhotra said on Monday.