Maruti Suzuki new car and SUV prices are set to go up again, making it the third instance of the company hiking prices this year.
- Percentage of price hike will vary, depending on model
- Rise in input costs cited as one of the main reasons
- New Celerio price announcement to take place soon
Why are Maruti Suzuki car and SUV prices being hiked again?
The company has cited increase in input costs as the reason for the latest price increase, as it did for the previous two hikes. In January 2021, Maruti Suzuki had increased prices by 1-6 percent, depending upon the model, over the earlier ex-showroom prices in Delhi; this hike ranged between Rs 5,000 to a maximum of Rs 34,000. It was followed by another hike in April.
In its latest regulatory filing, Maruti Suzuki India has said, “Over the past year, the cost of the company's vehicles continues to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise. The price rise has been planned in Quarter 2 and the increase shall vary for different models.”
Maruti Suzuki: sales
Meanwhile, on the April-May 2021 period, the carmaker has sold a total of 1,68,782 units in the domestic market, which gives it a PV market share of 48.27 percent. Four hatchbacks – Swift (25,321 units), Baleno (21,187), Wagon R (20,742) and Alto (20,523) – are leading the sales numbers for the carmaker. In the April-May 2021 period, Maruti Suzuki produced 1,98,213 vehicles, sold 1,68,782 units in the domestic market and exported another 28,278 units.
Meanwhile, Maruti Suzuki is also leading the made-in-India vehicle export chart with total shipments of 28,278 units in the first two months of the ongoing fiscal year. The Baleno, with 7,037 units, is its most-exported model in the first two months of FY2022, followed by the Dzire (4,499) and the S-Presso (4,241).
Maruti Suzuki: upcoming launches
As far as models go, Maruti Suzuki will soon launch the next-gen Celerio in the Indian market. Additionally, there are talks of an all-new SUV and a premium hatchback from the brand that are expected to be unveiled next year. The 5-door Jimny is also in the works for India, as reported by us earlier.
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