Maruti Suzuki Price hike: If you are thinking of buying a Maruti Suzuki India car, then from next month you will have to pay a higher price. This is because the company is going to increase the prices of all its models due to the rising cost of production. This price increase will come into effect from April 2021. The country’s largest carmaker Maruti Suzuki India (MSI) has given this information in a regulatory filing on Monday. MSI sells a range of models from the entry-level Alto 800 to the S-CROSS crossover.
Maruti says that the price increase is going to reduce the impact of higher input prices. During the last year, the price of the company’s vehicles has been affected due to the increase in the input price separately. It further states that, therefore, it has become imperative for the company to forward some impact of the additional price to the customers by increasing the prices in April 2021. Accordingly, the price increase will vary for different models. However, the company has not shared the details of the price increase, which it is going to increase from next month.
Prices were also increased in January 2021
Earlier, Maruti Suzuki had increased the prices of select models from 18 January. At that time too, an increase of up to Rs 34000 (ex-showroom Delhi) was done and the company cited an increase in production cost. In December 2020, the company announced that it would increase the prices of its various models from January 2021.
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Sales of the company rose 11.8% in February.
Maruti Suzuki’s total sales rose 11.8 percent to 1,64,469 in February this year. In February 2020, the company sold 1,47,110 vehicles. If you look at the company’s sales figures for the month of February, the highest growth is coming in the compact and utility vehicles segment. In February 2021, sales of the compact segment were up 15.3 percent and utility vehicles jumped 18.9 percent.
Maruti sells the WagonR, Swift, Celerio, Ignis, Baleno and Dzire models in the compact segment, while in the utility vehicles segment, the company has models such as the Vitara Brezza, S-Cross, Ertiga, XL6 and Gypsy. However, February saw a decline in Maruti’s mid-size sedan and mini segment. From this, an assessment can be made that the new car buyers are looking for more options in the compact and SUV segment.