Maruti Suzuki has announced that it will raise the prices of its variants from January 2024. Customers who are planning to purchase a new Suzuki car for the existing amount will only get one month to bring their dream car home as the company will increase prices next year. Suzuki has not confirmed if the price surge will be applicable to all of its variants. It has also not shared the rate of increased prices.
Maruti Suzuki is India’s largest passenger car manufacturer, and due to growing production costs, the company has decided to increase the price of its various models. However, it has not shared the quantum of the newly proposed price surge.
On Monday, Suzuki stated in a regulatory filing that "the company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market." It continued, "While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market. This price increase shall vary across models."
Read more: Next-Generation Maruti Suzuki Swift Spotted Testing in India
Earlier today, German luxury automaker Audi also announced that it will increase the price of its cars in India by up to 2% starting in January of next year, citing increased operating and input expenses.
The automaker currently offers small to midsize cars in the large or compact segment. The Alto is Suzuki’s smallest car in its line-up, and it comes at an initial price of INR 3.54 lakh (ex-showroom). The multi-utility vehicle Invicto is the largest car that the company sells, and it is based on the Toyota Innova HyCross. The Invicto is available at a price of INR 28.80 lakh (ex-showroom).
Swift, WagonR, and Baleno are the three top-selling cars offered by Maruti Suzuki. On a monthly basis, these three cars are also the highest-selling vehicles in India. The company has also improved its SUV game and has become one of the largest SUV manufacturers in the country, with models like the Fronx, Grand Vitara, Brezza, and Jimny.
