Citing rising input costs as the main reason, Automaker Maruti Suzuki has announced an increase in prices across models and range. This new pricing was applicable from Monday, 18th January 2021. It the new price increase will be up to 34000 Rupees. Company now has decided to pass on the impact of rising input prices to customers.
Similar price announcements had recently been made by every other automaker in India. Depending on the model, Mahindra revealed a price hike by 1.9 percent which might lead to an increase in price by Rs.4,000-40,000. While Skoda increased the prices by 2.5 percent and it was already announced at the end of last year.
Nissan, Renault, Honda, Ford and BMW have made similar price announcements, whereas Volkswagen India increased prices of the Polo and Vento by 2.5 percent.
New Pricing For Different Models :-
Price of Alto 800 will be increased by upto Rs.14,000, S-Presso prices will go up by Rs.7,000. Celerio prices will go up by Rs.19,400, WagonR prices will go up by Rs. 23,200 & Eeco will be up by Rs.24,200.
DZire will be up by Rs.12,500, Brezza prices will go up by Rs.10,000 whereas Swift prices will be hiked by Rs.30,000. The maximum price hike will be there for Maruti Suzuki Ertiga by Rs.34,000.
Effective from 18th Jan 2021, following is the detailed look at the new prices of Maruti cars.
It is generally observed that, citing fluctuations in foreign exchange rates and rising input costs, automakers resort to increase in prices at the start of each calendar year. For a long time, there is a constraints in demand for the Indian auto industry.
The pandemic in turn aggravated the slowdown and the effect is still seen. Despite some revival in the demand during the festive season, manufacturers are apprehensive that it once again dip in the coming days. Increase in prices at this time could cause further constraints.
Maruti Suzuki Sales & Smart Finance Platform
A sales of 12,13,660 units in 2020 was reported by Maruti Suzuki, which is an 18 percent dip in sales as compared to 14,85,660 units in 2019.
As against 1,33,296 units sold in December 2019, December saw a positive note with a 20.2 percent YoY growth to 1,60,226 units. Company saw an increased 7.8 percent sales in the domestic market which is 1,46,40 units in December 2020. Also, there has been an increase in demand for Alto and S-Presso. An online financing platform, Smart Finance Platform was launched by Maruti Suzuki has seen digitization of 24 out of 26 steps in the purchase of a vehicle. In a few clicks it enables customers right from selecting the best loan product to all financial formalities right upto the disbursement of loan.
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