Maruti Suzuki hikes prices of entire model range by 0.45 per cent

Maruti Suzuki India on Tuesday announced an increase in the prices of its entire model range with immediate effect amid rising cost pressure due to high commodity prices.

"An estimated weighted average of increase across models stands at around 0.45 per cent. This indicative figure is calculated using Ex Showroom prices of models in Delhi and will come into effect from January 16, 2024," the company said in an exchange filing.

The company had on April 1 last year raised prices across all its vehicle models. Maruti Suzuki India sells a range of cars, starting from Alto to Invicto, priced between Rs 3.54 and Rs 28.42 lakh (ex-showroom).

Maruti Suzuki sales

In December 2023, Maruti Suzuki sold a total of 137,551 units, registering a drop of 1.28 per cent from the 1,39,347 units sold during December 2022. The company’s total sales in the month include domestic sales of 1,06,492 units, sales to other OEMs of 4,175 units, and exports of 26,884 units.

For the first time, the company crossed the annual sales milestone of 2 million units in calendar year 2023, which includes its highest ever calendar year exports of 2,69,046 units.

Maruti Suzuki India’s production in December also declined nearly 3 per cent to 121,028 units from 1,24,722 units, YoY.

Last week, Maruti Suzuki announced plans to invest about Rs 32,000 crore to establish an automobile plant in Gujarat that will eventually produce about 1 million vehicles every year. The plant is expected to begin operations in FY29.

The auto major will invest another Rs 3,200 crore to set up a fourth production line at its wholly owned subsidiary Suzuki Motor Gujarat for increasing production of electric vehicles.