Maruti Suzuki announces price hike across all vehicle models, shares jump 1.5%

Maruti Suzuki has announced a 0.45% price hike across its models due to increased cost pressure from inflation and increased commodity prices. The hike will take effect from January 16, 2024. The weighted average increase across models is around 0.45%. Other automakers, including Tata Motors, Mahindra & Mahindra, Honda Cars India, and luxury car dealer Audi, have also hiked prices this month

Maruti Suzuki plans to increase its car prices in January 2024 due to rising commodity prices and inflation. The company aims to reduce costs and offset the increase, but may pass it on to the market. The price increase will vary across models, the company said in a stock exchange intimation.

Resolutions as set out in the postal ballot pertaining to approval of related party transaction, and create, offer, issue and allot equity shares on a preferential basis for consideration other than cash have been approved by the members of the company with requisite majority, Maruti Suzuki India said in a regulatory filing.

The problem (chip shortage) is a global one..it could affect different models, different companies, different modules differently..all our efforts are to organise supplies through multiple sources, PTI quoted Maruti Suzuki India Executive Officer (Corporate Affairs) Rahul Bharti as saying in an analyst call.

Shares of auto companies including Maruti Suzuki, Tata Motors, Ashok Leyland, TVS Motor among others will be in focus following the announcement of monthly sales numbers.

The company continues to witness increased cost pressure driven by overall inflation and 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, Maruti Suzuki said in a stock exchange filing.

Indian two-wheeler maker Hero MotoCorp on Friday said it would increase prices of specific models of motorcycles and scooters by around 1.5% from July 3, as it combats price positioning, input costs and business imperatives.

New Delhi [India], November 27 (ANI): Automaker Maruti Suzuki is yet again set to increase the prices of its cars in January. According to the automaker, the proposed hike was necessitated due to an increased cost pressure driven by overall inflation and increased commodity prices. “While the company makes maximum efforts to reduce cost and […]

Maruti Suzuki Q2 Results Preview: India's largest car manufacturer is expected to report robust earnings on the back of healthy volumes, rich product mix, and softer commodity costs.

In January 2023, the company had said that it hiked prices of its vehicles across models by about 1.1 percent.