Maruti Suzuki cars to become costlier by up to Rs 32,500 from February 1

Due to rising input costs and operational expenses, the company plans to increase car prices, starting February 1, said MSIL in a regulatory filing on Thursday.
The company's hatchback Celerio will see a price hike of up to Rs 32,500 (Photo| Special arrangement)
The company's hatchback Celerio will see a price hike of up to Rs 32,500 (Photo| Special arrangement)
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The country’s largest carmaker Maruti Suzuki (MSIL) will soon be hiking the prices of its vehicles by up to Rs 32,500. Due to rising input costs and operational expenses, the company plans to increase car prices, starting February 1, said MSIL in a regulatory filing on Thursday.

"While the company is committed to optimising costs and reducing the impact on the customers, we are constrained to pass on some of the increased expenses to the market," it added. The company's hatchback Celerio will see an increase in ex-showroom prices by up to Rs 32,500, while that of premium model Invicto will go up by Rs 30,000.

Prices of the popular model Wagon-R price will go by up to Rs 15,000 while that of Swift by Rs 5,000. SUVs Brezza and Grand Vitara will see price hikes by up to Rs 20,000 and Rs 25,000, respectively. Entry-level small car Alto K10's prices will rise by up to Rs 19,500 and that of S-Presso by up to Rs 5,000, the filing said.

Premium compact model Baleno's price will go up by up to Rs 9,000, compact SUV Fronx by up to Rs 5,500, and that of compact sedan Dzire by up to Rs 10,000, said MSIL. Low-selling models such as Jimny and Ciaz will see a price hike of Rs 1,500 each.

The price hike by MSIL comes at a time when sales of passenger vehicles, especially of entry-level hatchbacks, have slowed. In a recent interview with TNIE, Partho Banerjee, Senior Executive Officer of Marketing & Sales at MSIL, said while premium hatchbacks are facing no problems, entry-level cars have become unaffordable for many consumers.

“Prices of the cars have gone up by 58% in the last five years whereas the monthly income is more or less the same. There is a huge affordability issue,” stated Banerjee. Besides Maruti Suzuki, other carmakers have also taken price hikes in recent times to offset the inflationary impact. Further, a falling rupee against the US dollar is adding to the woes of automakers.

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