Maruti Suzuki India has announced that it will raise the prices of its vehicles by up to Rs.32,500, effective February 1. The company attributed the price hike to the rising input costs and operational expenses that have impacted its manufacturing and overall costs.
In a regulatory filing, Maruti Suzuki explained that despite efforts to optimize costs and minimize the effect on customers, the company had no choice but to pass on some of these increased expenses to the market. The price adjustments will affect a wide range of models in the company’s lineup.
Impact on Various Models
Among the models seeing the highest price hikes is the compact Celerio, which will become Rs.32,500 more expensive in its ex-showroom price. The Invicto, Maruti’s premium offering, will see an increase of up to Rs.30,000. SUVs like the Grand Vitara and Brezza will also experience price hikes, with the Grand Vitara going up by Rs.25,000 and the Brezza by Rs.20,000.
For those looking for more budget-friendly options, the Alto K10, a popular entry-level car, will become Rs.19,500 costlier, while the WagonR will see an increase of Rs.15,000. The Dzire compact sedan will go up by Rs.10,000, while the Baleno hatchback will become Rs.9,000 more expensive. Other models like the Fronx, S-Presso, and Swift will experience increases ranging from Rs.5,000 to Rs.5,500.
Why the Price Hike?
Maruti Suzuki’s decision to hike prices comes amid mounting operational challenges, including increased costs for raw materials, logistics, and other operational expenses. While the company has worked to optimize costs, it acknowledged that these ongoing challenges made it necessary to adjust prices across its various models.
As a result of these price changes, customers will see higher costs on a range of vehicles, from the entry-level Alto K10, priced from Rs.3.99 lakh, to the premium Invicto, which starts at Rs.28.92 lakh. The new prices reflect a hike of up to 4% across different models, with the increase varying based on the specific car.
A Trend in the Automotive Industry
This price hike follows a broader trend in the automotive industry, where rising costs have forced several manufacturers to adjust their prices. Factors such as inflation, supply chain disruptions, and higher raw material costs have led companies to re-evaluate pricing strategies in order to maintain profitability.
Maruti Suzuki, as the country’s largest automaker, has faced increasing pressure due to these global economic challenges. While the company remains committed to providing value to its customers, it is adjusting prices in response to these unavoidable cost pressures.
For customers considering purchasing a Maruti Suzuki vehicle, the new prices will come into effect starting February 1, making it the latest adjustment in the ongoing battle against rising costs in the automotive sector.