The price hike is on account of an increased cost pressure driven by overall inflation and regulatory requirements.
By India Today Auto DeskMaruti Suzuki India has taken the first price hike in FY24. The company has increased the price of its vehicles on average by 0.8%.
“An estimated weighted average of increase across models stands at around 0.8% and is calculated using ex-showroom prices of models in Delhi,” Maruti said in a statement dated April 1.
The fresh price hike is on account of an increased cost pressure driven by overall inflation and regulatory requirements.
The country’s largest carmaker increased the price of its cars twice in FY23, once in April by 1.3% and then in January by 1.1%.
Maruti sells its cars via Arena and Nexa retail outlets. Among the popular Arena models are Alto K10, Eeco, WagonR, Swift, Dzire, Ertiga, and Brezza. The Nexa models include the Ignis, Baleno, Ciaz, XL6 and Grand Vitara. The upcoming Fronx and Jimny will be sold from Nexa dealerships as well.
The company ended FY23 on a strong note with its highest-ever total volumes during a fiscal at 1,966,164 units, beating the previous best of 1,862,449 units achieved in FY19.
Maruti also registered its best-ever export performance with shipments of 259,333 units in FY23.
Kole Prosacco
Keven Bayer
Jakob Auer