Maruti Suzuki to Increase prices of its Cars from January

The prices of cars of Maruti Suzuki, one of the big automobile companies, will increase from January next year. The company has said that due to increasing cost pressure, it has decided to increase the prices of cars. Maruti Suzuki said it has tried its best to absorb the cost increase but it will have to pass on some of the burden to customers.

Maruti Suzuki has a range of models ranging from small cars to SUVs. Their prices range between Rs 3.54 lakh to Rs 28.42 lakh (ex-showroom, Delhi). The company has informed the stock exchange about increasing the prices of cars. However, it did not say by how much the prices would be increased. Maruti Suzuki says that the price increase will vary according to the models. In April this year, the company had increased the prices of all its vehicles. Earlier in January also, these prices had increased by about 1.1 percent. Some other car companies like German luxury car maker Audi are also preparing to increase the prices of their vehicles from January next year. Maruti Suzuki’s sales in October were 1,77,266 units. This is an increase of 21 percent compared to the same period last year. Brezza and Grand Vitara are performing well in the SUV segment for the company.

Last month, Maruti Suzuki sold 59,147 units in the utility vehicle segment. In the same month last year, the company’s sales in this segment were 30,971 units. In the first seven months of this financial year, the company’s passenger vehicle sales increased to 10,41,154 units, which was 9,34,887 units in the same period of the last financial year. Recently Maruti Suzuki launched Jimny SUV. It is getting good response from customers.

However, the sales of the company’s small cars are declining. In this regard, recently Maruti Suzuki Chairman, RC Bhargava had said that unless the government cuts taxes, it is difficult to recover the sales of small cars. A few months ago, the company was facing difficulties due to shortage of semiconductors. The supply of semiconductors for Maruti Suzuki has improved.