- Maruti Suzuki has hiked the price of its entire range of passenger vehicles, ranging between Alto K10 and Invicto, effective from 16th January 2024.
Maruti Suzuki has increased the pricing of its entire range of passenger vehicles in India, effective from 16th January 2024. The biggest car manufacturer in India announced a price hike on November 27 last year, owing to the rising production costs due to various factors. Now, the automaker has stated in a regulatory filing that its entire passenger vehicle range has witnessed a price hike of around 0.45 per cent. The auto company stated that the indicative price hike percentage is calculated using the ex-showroom prices of its cars in Delhi.
Maruti Suzuki sells a wide range of passenger vehicles in India, ranging between the entry-level small hatchback Alto K10 and the premium MPV Invicto. The cars are sold through different channels like Arena and Nexa. While the Arena focuses on mass-market models like Celerio, WagonR, Swift, Dzire etc., Nexa emphasises on premium passenger vehicles like Baleno, Fronx, Grand Vitara, Jimny etc.
with the price hike, the Maruti Suzuki’s most affordable car Alto K10 is now priced between ₹3.99 lakh and ₹5.96 lakh (ex-showroom), as the automaker’s website suggests. Another popular model Maruti Suzuki Brezza now comes priced between ₹8.29 and ₹13.98 lakh (ex-showroom). The Maruti Suzuki Baleno now comes priced between ₹6.61 lakh and ₹9.28 lakh (ex-showroom), as the website shows.
Maruti Suzuki is not the only automaker in India that announced a price hike for its passenger vehicles from January 2024. Several other carmakers including Tata Motors and Mahindra among others, also hiked the prices of their cars citing the higher production costs due to rising raw material prices. However, despite the price hike and added pressure on the consumers due to the rising inflation, the auto manufacturers are hopeful that their sales momentum will not be hurt.
Maruti Suzuki witnessed a record sales volume in 2023 as the auto company crossed the annual sales milestone of 20 lakh units in the last calendar year, which includes its highest-ever calendar year export of 269,046 units.
First Published Date: 17 Jan 2024, 13:27 PM IST