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Maruti Suzuki hikes vehicle prices by 1.1% across models, 2nd rise in FY23

The automaker raised prices in April 2022, making this the second increase in the current fiscal year.

India TV Auto Desk Edited By: India TV Auto Desk New Delhi Published on: January 16, 2023 20:05 IST
Maruti Suzuki
Image Source : UNSPLASH Maruti Suzuki hikes vehicle prices by 1.1% across models

Maruti Suzuki India, the largest automaker in India, on Monday announced that it has increased the prices of all of its models by approximately 1.1%. 

The automaker raised prices in April 2022, making this the second increase in the current fiscal year.

The company announced in December last year that it would raise the prices of its vehicles to offset the impact of rising input costs and update the model range to comply with stricter emission standards that will take effect in April 2023.

"An estimated weighted average of the increase among models is approximately 1.1%. Maruti Suzuki India stated in a regulatory filing that "this indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect on January 16, 2023."

From the entry-level Alto small car to the SUV Grand Vitara, the company sells a variety of vehicles with prices ranging from Rs 3.39 lakh (ex-showroom Delhi) to Rs 19.49 lakh.

In the meantime, Maruti Suzuki reported its highest-ever export volume of 2,63,068 units in 2022, an increase of 28%. In a press release issued in the first week of January, the business stated that the previous record for the automaker's exports was 2,05,450 units in 2021.

According to the company, the Dzire, Swift, S-Presso, Baleno, and Brezza were the models that saw the most exports in 2022. Customers in Africa, the Middle East, Latin America, ASEAN, and neighbouring  regions are particularly fond of Maruti Suzuki automobiles. The company exports 16 models at this time.

"Crossing the 2 lakh milestone in exports for the second consecutive year signifies the trust, quality, reliability, performance, and affordability of our products," This accomplishment further demonstrates our strong support for the "Make in India" initiative launched by the Indian government to produce goods that please customers all over the world.”

stated Hisashi Takeuchi, managing director and CEO of Maruti Suzuki (MSIL).

FAQs
Q1. Who started the Maruti plant first?
In February 1981, the Government of India and Suzuki Motor Corporation, Japan, formed a joint venture to incorporate the company, which was formerly known as Maruti Udyog Limited.

Q2. Who is India's largest Maruti dealer?
Varun Maruti is the most successful automobile dealership in India. It is based on solid fundamentals and has more than 20 million satisfied customers. 

ALSO READ | Auto Expo 2023: Everything you need to know about Maruti Suzuki's new Fronx SUV

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