Maruti Suzuki India said it will increase prices of its model range in April to partially offset the impact of "overall inflation and regulatory requirements". The auto major, however, did not share the quantum of the price hike it intends to implement from next month.
Do you intend to purchase a Maruti vehicle? If so, we have some unfortunate news to share with you! Due to intense cost pressure, the largest automaker in the nation stated that it will raise the pricing of its vehicles starting in April.
The amount of the price hike, which would vary based on the model, is still being determined by Maruti. The Alto, Eeco, WagonR, Swift, Dzire, Baleno, Ertiga, Brezza, and Grand Vitara are just a few of the well-known vehicles sold by the firm.
In FY23, Maruti took two price hikes. It increased the prices in April by 1.3% and in January by 1.1%. The firm stated in a regulatory filing that it is still experiencing rising cost pressure brought on by both general inflation and regulatory obligations.
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While the firm takes every attempt to decrease costs and partially offset the rise, Maruti Suzuki India stated that it has become necessary to pass on some of the effect through an increase in pricing.
The statement said, "The corporation has scheduled this price rise for April 2023, which shall vary between models." With the implementation of real driving emission (RDE) requirements beginning on April 1, some automakers anticipate raising the price of their vehicles.
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Recently, Kia India unveiled its lineup of RDE-compliant cars, including the revised Seltos, Sonet, and Carens. Additionally, Hyundai Motor India has unveiled vehicles with RDE-compliant motors. Starting on April 1, Tata Motors will increase the cost of its commercial cars by up to 5%.
The largest two-wheeler manufacturer in the nation, Hero MotoCorp, will raise the cost of a few of its bikes and scooters by about 2% starting on April 1.
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