India’s biggest carmaker Maruti Suzuki will increase prices of its models starting next month. The price increase will vary for different models, Maruti Suzuki said in a communication to exchanges, without disclosing the quantum of price hike. Maruti Suzuki cited increase in various input costs for its decision to increase prices.
Currently, Maruti sells a range of vehicles starting from entry-level small car Alto to premium multi-purpose vehicle XL6 with price ranging from ₹2.89 lakh to ₹11.47 lakh (ex-showroom Delhi).
“The cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020,” Maruti Suzuki said in a statement.
Maruti had reported a 1.9% decline in sales at 1,50,630 units in November. Domestic sales declined by 1.6% at 1,43,686 units last month as against 1,46,018 units in November 2018.
Maruti Suzuki India recently achieved the sales mark of 20 million (2 crore) passenger vehicles in India, becoming the only company in the country to cross the landmark figures.
Maruti Suzuki plans to introduce a BS-6 petrol version of its two models, Brezza and S-Cross, before April 1, 2020. The new Bharat Stage (BS) 6 fuel emission norms are set to kick in from April 1, 2020.
Currently, Maruti is selling only the diesel versions of Brezza and S-Cross.
Maruti Suzuki had reported a 39% fall in profit for the September quarter, as automakers battle a slowdown in Asia’s third-largest economy.
The company reported a net profit of ₹1,359 crore in the September quarter, down sharply from ₹2,240 crore in the same period a year earlier.