Key Points
Leading automaker Maruti Suzuki intends to increase the prices of its units in January 2024 owing to increased commodity prices and overall inflation, the company said in a stock exchange filing on Monday.. While the company did not specify the exact rate of hike, it said the quantum of the price increase shall vary across models...
"The company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices," it said in a statement...
Meanwhile, the company's net profit rose 80.3 per cent to Rs 3,716.5 crore in the September quarter, driven by better sales, softening commodity prices, cost reduction efforts and higher non-operating income...
"And given this kind of growth (rising income levels and growing economy), I expect that the affordability factor, which was in the past the reason for small cars (sales) going down, that factor is going to gradually get eroded and in the next, maybe 2-3 years, we will find that people once again, will be able to afford a small car and the market should gradually come back," Maruti Suzuki India Chairman R C Bhargava said at the post-Q2 earnings virtual media conference...
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