
Maruti Suzuki will increase the prices of its national range of products starting next month citing rising costs of supplies.
Maruti Suzuki India Limited (MSIL) will increase the prices of its passenger cars in the domestic market from the first month of the new year. While the exact number of increase is not yet known, we do not expect it to be too substantial. The country’s largest automaker appears to be raising the price due to rising input costs to produce the vehicles.
The price increase will be immediately passed on to customers and as of December 2020 all car manufacturers are offering lucrative discount deals and benefits, including Maruti Suzuki. In addition, to facilitate the purchase proposition, attractive financial schemes, easy EMI options, home delivery, reservations and online configurators are provided, and simple test drive arrangements are provided.
Currently, Maruti Suzuki has the small Alto hatchback as its entry-level offering and is priced at Rs. 2.95 lakh, while the premium MPV XL6 is at the top of the range priced at Rs. 11.52 lakh (ex-showroom, New Delhi). The Indo-Japanese manufacturer has been expanding its premium portfolio in recent years and creating a separate chain of Nexa outlets has worked wonders.
The auto industry has grown steadily over the past three to four months and most manufacturers are posting positive sales. The holiday season couldn’t have come at a better time, as brands certainly capitalized on it to deliver their best performance of this calendar year. Maruti Suzuki has certainly recovered strongly in the second half of 2020.
In November 2020, Maruti Suzuki continued to rank at the top of the sales charts with a cumulative national count of 1.35,775 units and compared to the same period last year, 1.39,133 units were recorded, resulting in a 2 percent volume decrease. Compared to the previous month of October 2020, 1,63,656 units were sold, which generated a 17% month-on-month decrease.
Last month, about 2,86,476 passenger vehicles were shipped to showrooms across the country with a very appreciable sales growth of 8.8 percent and the momentum is expected to continue into 2021.