Maruti Suzuki India Ltd India’s largest manufacturer of passenger cars has increased the prices of its vehicles by an average of 1.1 percent, effective today. Maruti Suzuki cars and SUV get costlier from today.
The price hike will take place across models. Last month, the company announced that it intends to hike the prices across models from January as the automaker continued to witness increased cost pressure driven by overall inflation and recent regulatory requirements.
Maruti Suzuki mentioned that while the company makes a maximum effort to reduce the cost and partially offset the increase, it had become imperative to pass on some of the impact through a price increase. The indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from 16 January 2023, the filing stated.
Previously, Maruti Suzuki had increased the prices of its models by 1.3 percent in April last year to offset higher production cost, which was the second price hike in 2022. Maruti Suzuki sells popular compact cars such as Baleno, Celerio, Dzire, Ignis, and Swift and utility vehicles such as Brezza, XL6, Grand Vitara and Ertiga.
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The company last week unveiled its Concept Electric SUV eVX and also two new SUVs – FRONX and JIMNY at the Auto Expo in Greater Noida. The automaker’s sales in December had declined 9 percent year-on-year to 1.39 lakh units. Shares of Maruti Suzuki India are trading 0.8 percent lower at Rs 8,392.10.
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