Maruti Suzuki increases vehicle prices from January 16; stock trades under pressure

16 Jan 2023 , 12:05 PM

Maruti Suzuki Limited informed that the company has announced an increase in prices across all its models today.

As per the company’s filing with the bourses, an estimated weighted average of increase across models stands at around 1.1%. The company has calculated the indicative figure using Ex Showroom prices of models in Delhi. The increase will be effective from January 16, 2023.

In December, the company announced that it will have to hike prices in January across all vehicles so as to pass on the impact of high inflation and cost pressures related to regulatory requirements.

This is the Maruti’s second price increase in the current fiscal year, following an increase in April 2022.

Prices are rising as car sales in India resume following disruptions caused by COVID-19 and component shortages, including semiconductors.

Companies are increasing their vehicle production capacity, and Maruti Suzuki is constructing a new factory in Haryana.

Maruti Suzuki, which manufactures the Baleno, Celerio, Dzire, Ignis, Swift, and WagonR, stated that the price increases will vary depending on the model.

Following this development, Maruti Suzuki’s counter was trading 0.63% lower at Rs8,399.95, against the previous close of Rs8,453.40 on NSE. 

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