Maruti Suzuki plans to increase car prices from January 2023, cites inflation 

Maruti Suzuki car price rise: Automaker Maruti Suzuki India said on Friday that it plans to increase prices across models from January 2023, citing cost pressures due to inflation and regulatory requirements. 

The automaker said in an exchange filing, “While the company makes the maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase. The company has planned this price increase in January 2023 which shall vary across models.”

The automaker reported a 14 per cent on-year rise in its total sales in November 2022. Maruti Suzuki sold 1,59,044 units in November this year versus 1,39,184 in the same period last year. The figure comprises domestic sales (1,35,055 units), sales to other OEMs (4,251 units), and exports (19,738 units). 

While sales were on the rise, the production of domestic models was impacted due to the electric components shortage. The automaker said, “The shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. The company took all possible measures to minimise the impact.”

The company’s domestic sales went up 18 per cent to 1,39,306 units versus 1,17,791 units in November last year. Sales of mini cars (Alto, S-Presso) went up to 18,251 units from 17,473 units in the same month last year. 

Sales in the compact segment (Swift, Celerio, Ignis, Baleno and Dzire) rose to 72,844 units from 57,019 units in November last year. While sales of the mid-sized sedan Ciaz stood at 1,554 units, sales in the utility vehicle segment (Vitara Brezza, S-Cross, Ertiga) rose to 32,563 units in November this year. 

Exports, on the other hand, dropped to 19,738 units as against 21,393 units in the same month last year. Shares of Maruti Suzuki India were down 1.58 per cent to trade at 8,815 apiece on the BSE.

Also read: Maruti Suzuki total sales rise 14% to 159,044 units in November 2022

Also read: Maruti Suzuki Baleno, Honda City, Hyundai Creta SUV among the best-selling used cars in India