Maruti Suzuki India on Monday announced a 1.1 percent price increase for all of its types of vehicles. After raising prices in April 2022, the automaker is now doing so once more during the current fiscal year. The firm announced in December of last year that it would increase car prices to counteract the effects of growing input costs and make plans to upgrade the model range in order to comply with tighter emission standards that will take effect in April 2023.
“An estimated weighted average of increase across models stands at around 1.1 percent. This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from January 16, 2023,” Maruti Suzuki India said in a regulatory filing.
The company sells a range of vehicles starting from entry-level small car Alto to SUV Grand Vitara, which are priced between Rs 3.39 lakh and Rs 19.49 lakh (ex-showroom Delhi). Models like Maruti Suzuki WagonR, Swift, Dzire, Brezza, Celerio, Baleno, and many others fill the gap between the two.
Some of these models are also consistently in the list of best-selling models. However, even then, the company ended the year 2022 with a sales decline while maintaining its top position in the Indian market. Maruti Suzuki reported total wholesales decreased by 9 percent to 1,39,347 units in December 2022.
Meanwhile, the Indian automaker unveiled the Maruti Suzuki Jimny 5-door version in India. The company has plans to launch the SUV in India; If rumors are to be believed, the off-roader SUV will be launched by February 2023. In addition, the company is also planning on venturing into the electric vehicle market. Taking the first step in this direction, the company unveiled the Maruti Suzuki EVX concept electric vehicle in India.