Maruti Suzuki Hike Prices of its Car Models by 1.1%

BUSINESS

On Monday, January 16, 2022, Maruti Suzuki India announced a price increase of approximately 1.1% across all of its vehicle models. The automaker raised prices in April 2022, making this the second increase in the current fiscal year.

Maruti Suzuki India announced in December 2022 that it would raise the prices of its vehicles to offset the impact of rising input costs and update the model range to comply with stricter emission standards that will take effect in April 2023.

The weighted average increase for all models is estimated to be around 1.1%. Maruti Suzuki India stated in a regulatory filing that this indicative figure is calculated using prices that are ex-showroom for models in Delhi and will take effect on January 16, 2023.

From the entry-level Alto small car to the SUV Grand Vitara, the company sells a variety of vehicles with prices ranging from Rs 3.39 lakh to Rs 19.49 lakh.

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Maruti Suzuki India reported that total wholesale sales decreased by 9% in December 2022 to 1,39,347 units, down from the previous year. Maruti Suzuki India said in a statement that the company had sold 1,53,149 units in that same month in 2021.

Sales of utility vehicles like the Brezza, Ertiga, S-Cross, XL6, and Grand Vitara increased last month to 33,008 units, up from 26,982 units the previous month.