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Maruti Suzuki today announced increase in prices across models today. “An estimated weighted average of increase across models stands at around 1.1%. This indicative figure is calculated using Ex Showroom prices of models in Delhi and will come into effect from 16th January, 2023,” the carmaker said.
Maruti Suzuki had informed in December about the price hike. “The company continues to witness increased cost pressure driven by overall inflation and recent regulatory requirements. While the company makes maximum effort to reduce cost and partially offset the increase, it has become imperative to pass on some of the impact through a price increase. The company has planned this price increase in January, 2023 which shall vary across models,” the automaker had said in a communication to stock exchanges on 2nd December.
Maruti Suzuki is set to announce its quarterly results for the period ending 31st December, 2022, on 24th December. Maruti Suzuki shares were today trading 0.45% lower at ₹8,413 in a flattish Mumbai market.
Last week, at the India Auto Expo in Noida, Maruti Suzuki unveiled two new models – Jimny and Fronx – in the sports utility vehicle segment. Maruti also expects supply of its models, specially SUVs which have large pending orders, to get better in the ongoing quarter.
Jimny will be manufactured at the company’s Gurugram plant. India is the only country where the five-door version of the model is being manufactured. And the vehicle will also be exported from India to other markets. Bookings for both Jimny and Fronx have also opened and would be sold through the company’s Nexa retail outlets.
At present the company has a total order book of around 3.2 lakh units, down from around 4 lakh units last year.
Maruti Suzuki India had reported a 9% decline in total wholesales at 1,39,347 units in December 2022 compared to the year-ago month. The company had clocked a total sales of 1,53,149 units in the same month in 2021, Maruti Suzuki India (MSIL) said in a statement. Total domestic wholesales were at 1,13,535 units last month as against 1,26,031 units in December 2021.
Utility vehicles such as Brezza, Ertiga, S-Cross, XL6 and Grand Vitara clocked higher sales last month at 33,008 units as against 26,982 units in the year-ago period. “The shortage of electronic components had some impact on the production of vehicles, mainly in domestic models. The company took all possible measures to minimise the impact,” MSIL said. (With Agency Inputs)