Brace For Impact! Maruti Will Increase Price Of Almost All Cars By This Date: Check Full Details
India’s largest carmaker Maruti Suzuki India Limited (MSIL) has announced that it will hike the prices of its models from January 2023.
It said the increase will vary for different models.
In a statement the automaker explained its struggles and the reason behind the hikes.
“The Company continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements.
While the company makes the maximum effort to reduce costs and partially offset the increase, it has become imperative to pass on some of the impacts through a price increase.
The Company has planned this price increase in January 2023 which shall vary across models,” the filing said.
However, it did not disclose the quantum of the proposed price hike.
Sales not dented
While releasing its sales figures for November 2022, MSIL stated that its total sales rose 14.4 percent YoY) to 1.59 lakh units compared to 1.39 lakh units in the same month last fiscal.
However, even as sales grew, the production of domestic models was impacted due to the electric components shortage.
The company said, “The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models.
The company took all possible measures to minimise the impact.”
Going back to glory days
The carmaker shared its determination to regain its market share from rivals such as Tata Motors after having lost ground over the past three years.
It is targeting a return to the more prosperous year of 2018-19 when its overall share topped 51 percent.
Discounts before hike rollout
Before rolling out the hikes from next year, Maruti Suzuki is offering heavy discounts on some of its cars in December 2022.
These discounts include benefits like exchange benefits, cash discounts and corporate offers besides accessories or complementary services.
Some of the biggest discounts are being offered with small cars.
The new generation of Alto K10 will be offered with benefits of up to ?52,000.
This figure includes cash discounts worth up to ?30,000, exchange bonus worth up to ?15,000 and corporate discounts worth up to ?5,000.
The automatic variants will be offered with discounts up to ?22,000 while the CNG variants will come with a discount of ?45,100.
The Celerio is offered with big discounts in December.
The maximum discount on this hatchback can be ?45,100 for the CNG variant.
The manual variants can fetch up to ?36,000 discount and the automatic variants can be purchased with up to ?21,000 discount.
WagonR and Alto
Maruti WagonR and Alto 800 are also offered with discounts up to ?42,000.
The Swift hatchback and Dzire are offered with up to ?32,000 discounts this month.