Maruti Suzuki To Hike Prices Of Its Models From January 2021

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Maruti Suzuki will be increasing the prices of its domestic range of products from next month citing the rising input costs

Maruti Suzuki India Limited (MSIL) will be increasing the prices of its passenger cars in the domestic market from the first month of the new year. While the exact hike number is not known yet, we do not expect it to be too substantial. The largest carmaker in the country appears to be hiking the price citing the rising input costs for producing the vehicles.

The price hike will be immediately passed on to the customers and in the month of December 2020, all the carmakers are offering lucrative discount deals and benefits including Maruti Suzuki. Moreover, to make the buying proposition easy, attractive financial schemes, easy EMI options, door deliveries, online bookings and configurators, easy test drive provisions are being provided.

Currently, Maruti Suzuki has the Alto small hatchback as its entry-level offering and is priced from Rs. 2.95 lakh while the XL6 premium MPV sits at the top of the range with a price tag of 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.

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The automotive industry has been steadily growing over the last three to four months and most of the manufacturers are recording positive sales. The festive season could not have come at a better time as the brands certainly capitalised on it to deliver their best performance of this calendar year. Maruti Suzuki has recovered strongly without a doubt in the second half of 2020.

In November 2020, Maruti Suzuki continued to sit at the top of the sales charts with a cumulative domestic tally of 1,35,775 units and when compared to the same period last year, 1,39,133 units were registered resulting in a volume de-growth of 2 per cent. In comparison to the previous month of October 2020, 1,63,656 units were sold leading to a MoM decrease of 17 per cent.

Last month, around 2,86,476 passenger vehicles were dispatched to showrooms across the country with a highly appreciable 8.8 per cent sales growth and the momentum is expected to be continued into 2021.