Maruti Suzuki has announced plans to hike up prices in April. As per the recent news reports it has become apparent that the brand would be hiking up prices by 4%. The price hike would vary across different models. As per the brand the hike has been a response to the rising prices of the input accessories and equipment’s overall. The new direction has been shared by the company in its regulatory filing.
The brand has reported that it has been going through constant optimization to reduce the brunt that the end consumers would face. But with the increasing prices some portion of the pressure has to be extended to the end consumers.
As per a recent report by auto car professional Indian automotive industry has been witnessing increased raw material prices and also supply chain challenges. Maruti Suzuki as of now commands 40% of the Indian passenger vehicle market but still its finding it hard to stay buoyant in the choppy waters of supply chain challenges.
Since Suzuki has been a formidable industry player its possible that many other manufacturers would soon follow the same route of hiking up the prices to deal with raw material price hikes. Manufacturers continue to navigate the dynamic changes including Inflation and fluctuation in commodity prices.
Which Models Would be More Expensive?
Suzuki has not yet revealed which models would witness revised prices. But as per previous price hikes the adjustments have varied across Maruti’s product line up. So its possible that models from the entry level models till premium hatchbacks all receive price updates.
Suzuki had previously announced a price hike of 4% in December, citing increasing costs of raw materials as the reason. It was in January that price hikes ranging from Rs 1,500 to Rs32,500 on various models would be in effect from February 1. Following the same strategy Mahindra and Hyundai had showcased a revised pricing strategy as well. Suzuki is yet to start the delivery of their E- Vitara and further facelift a few of their existing models.
So If you have been planning to opt for a Suzuki on the upcoming months, you might need to step up your budget.
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