Maruti has announced a weighted average price increase across select models in its lineup by 1.9 percent
With commencement of the festive season, automakers sense an opportunity to substantially increase their sales volume by offering a variety of benefits and offers. However, that hasn’t been the case in the past few days as many automakers have announced price hike on their respective offerings.
The latest company to join the bandwagon is Maruti Suzuki which has announced a hike of 1.9 percent across selected models in its lineup. The revised prices came into effect on September 6, 2021. The recent price hike would result in an increase of Rs. 1,000 to Rs. 22,500, depending on the model.
Model-Wise price revision
Starting with Maruti’s entry-level models, Alto 800 has witnessed an increase of up to Rs.16,100 depending upon the trims available. In a similar fashion, the company has increased the prices of S-Presso by up to Rs 7,500. While Wagon R has now become dearer by Rs 12,500, prices of Swift have seen an increment of Rs. 10,000 as per the latest revision.
The range of utility vehicles offered by Maruti has also recorded a steep price hike. For instance, the twin MPVs Ertiga and XL6 will cost more by up to Rs 20,000 and Rs 12,300 respectively. Similarly, Vitara Brezza, the brand’s sole subcompact SUV, is now more extensive by Rs 10,000. S-Cross has also registered a massive price hike of Rs 20,500 across its lineup. Maruti Eeco has seen the maximum overall hike of up to Rs 22,500.
Meanwhile, the company’s crosshatch Ignis has seen an increase in price by up to Rs 14,680 for some variants while the brand’s premium hatchback Baleno has witnessed a hike of Rs 15,200. On the other hand, prices of Ciaz have been increased by up to Rs 20,500 on select few variants. Maruti has also increased prices of the CNG variant of Dzire under its fleet lineup called Tour S by Rs 20,300.
Reasons for Price Increase
As per a regulatory filing, Maruti Suzuki has cited factors such as ringing input cost including escalating prices of raw materials such as steel and precious metals, are the primary reasons behind the recent increment of prices.
While the latest hike in prices is Maruti’s third cumulative price revision in this calendar year, the company has also revised prices of Swift and the entire CNG range earlier in July which makes this the fourth instance this year.
The latest price hike would certainly come as a pinch to interested buyers especially since this being the onset of the festive season. Consumers would now be hoping that Maruti offers a sizable list of benefits as part of the annual festivity. The carmaker’s next big-ticket launch will be the new generation Celerio which is likely to make its debut towards the end of this year.