Maruti Suzuki Hikes Prices Of Its Cars By Up To Rs. 34,000/-
The automaker has cited rising input costs for the price hike and is not alone in undertaking such an exercise.
Maruti Suzuki has rolled out a price hike of up to Rs. 34,000/- for its products citing rising inputs costs.
The top automaker increased prices across its range on 18th January 2021 which has resulted in the Alto, its top-selling model in December 2020, costing up to Rs. 9000/- (ex-showroom, Delhi) more now.
The asking price of the S-Presso micro SUV has increased by Rs. 7000/-, while the Wagon R saw its cost increase by Rs. 2500/- up to 18,200/- with the recent Maruti price hike.
Another affordable hatchback, the Celerio, is now costlier by up to Rs. 14,400/-, while one of the top compact SUVs on sale in the market, the Vitara Brezza, had its rates made dearer by up to Rs. 10,000/-.
While the asking price of the Baleno premium hatchback has risen by up to Rs. 19,400/-, the Swift costs by up to Rs. 30,000/- more. But, it is the Ertiga MPV that has seen the biggest price hike of the lot, to the tune of up to Rs. 34,000/-.
This price hike is an attempt from Maruti to pass on the impact of rising input costs over the past year to customers even as its December 2020 sales stood at 1.40 lakh units, which is 14.6 percent better than the same period in 2019.
In the calendar year 2020, around 24.2 lakh passenger vehicles were sold in the country and Maruti accounted for half of them, having sold 12.13 lakh units.
While, overall sales was indeed down by 18.3 percent in comparison with 2019 figures, it was in accordance with the 17.3 percent degrowth that the auto industry witnessed as a whole.
For the third quarter of the current financial year, Maruti Suzuki is expected to report a net profit of Rs. 1553 crores, down by 0.8 percent year-on-year (YoY), but up 13.2 percent over the previous quarter this fiscal.
Source – CNBCTV18.com