Automaker Maruti Suzuki India on Friday said it plans to increase prices of all models from January 2023, citing cost pressures due to inflation and regulatory requirements.
“While the company makes maximum efforts to reduce costs and partially offset the increase, it has become imperative to pass on some of the impact through price hikes,” the automaker said in an exchange filing. Price hike is planned which will vary across models.
The automaker posted a 14 per cent growth in its total sales in November 2022. Maruti Suzuki In November this year, 1,59,044 units were sold as against 1,39,184 units sold in the same period last year. This figure includes domestic sales (1,35,055 units), sales to other OEMs (4,251 units) and exports (19,738 units).
While sales were increasing, production of domestic models was affected by a shortage of electrical components. The automaker said, “The shortage of electronic components had a marginal impact on the production of vehicles, mainly domestic models. The company took all possible measures to minimize the impact. ,
The company’s domestic sales were up 18 per cent at 1,39,306 units as against 1,17,791 units in November last year. Sales of mini cars (Alto, S-Presso) increased to 18,251 units from 17,473 units in the same month last year.
Sales in the compact segment (Swift, Celerio, Ignis, Baleno and Dzire) increased to 72,844 units from 57,019 units in November last year. While sales of mid-size sedan Ciaz stood at 1,554 units, sales in the utility vehicle segment (Vitara BrezzaS-Cross, Ertiga) increased to 32,563 units in November this year.
On the other hand, exports declined to 19,738 units as against 21,393 units in the same month last year. Maruti Suzuki India shares closed at 8,815, down 1.58 per cent, on the BSE.
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