
Maruti Suzuki India Limited, the country’s leading car manufacturer, has made a recent announcement that it will be increasing the prices of its cars from April 2023 onwards. This news is likely to affect some of the most popular models in the Indian car market, such as the Baleno, Brezza, Swift, Grand Vitara, and others. For those who are considering purchasing a Maruti car, it is important to take note of this development.
Exact Percentage Increase Yet to be Determined
The exact percentage of the price increase is still being calculated, but it is expected to vary depending on the specific car model. It is worth noting that Maruti has already implemented two price hikes in FY23 – a 1.3% increase in April 2022 and a 1.1% increase in January 2023.
Rising Costs Driven by Inflation and Regulatory Demands
In a regulatory filing, the company cited increased cost pressures due to inflation and regulatory requirements as the main reasons for the price hike. Despite Maruti’s efforts to cut costs and mitigate the impact, they have had to transfer some of the costs to their customers.
Price Hike Scheduled for April 2023
Maruti has stated that the price increase will take effect from April 2023 and will differ across models. This move comes ahead of the implementation of the real driving emission (RDE) norms from April 1, which is expected to result in price hikes from other automakers as well.
Consider Purchasing Before April 2023 to Avoid Price Increase
While Maruti’s current decision to raise prices may not be welcomed by potential customers, it is important to note that the company is taking steps to mitigate the impact of rising costs. Nonetheless, if you have plans to purchase a Maruti car in the near future, it may be wise to consider doing so before April 2023 to avoid the increased costs.
Conclusion
Maruti Suzuki’s decision to increase car prices from April 2023 is a significant development in the Indian car market. While the exact percentage increase is yet to be determined, it is expected to vary depending on the specific car model. Maruti has cited increased cost pressures due to inflation and regulatory requirements as the main reasons for the price hike. If you are planning to buy a Maruti car in the near future, it may be wise to consider doing so before April 2023 to avoid the price increase.