Maruti Suzuki has previously said that it is under increased cost pressures as a result of general inflation and regulatory restraints.
Maruti Suzuki has increased the prices of its vehicles beginning April 1, 2023. The price hike comes at a time when Maruti Suzuki India reported sales of 1,70,071 units in March 2022, down from 1,70,395 units in March 2021. Overall domestic market shipments to dealers fell by 3% from March 2022 to March 2023, from 1,43,899 to 1,39,952, as reported by PTI.
Based on the ex-showroom costs of models in Delhi, the auto manufacturer projected a weighted average rise across models of roughly 0.8% in a regulatory filing. It said that this will take effect on April 1, 2023.
As a result of overall inflation and regulatory constraints, MSI stated on March 23 that it would be increasing pricing across the board in April.
The carmaker has previously indicated that it was under greater cost pressure due to general inflation and regulatory constraints.
The firm had previously said that despite its best efforts to cut costs and compensate for the hike, it was necessary to pass on some of the burden via a price increase.
Honda Cars, Tata Motors, and Hero MotoCorp are just a few of the manufacturers who have already announced price increases beginning in April.
Beginning on April 1, cars will be required to have an on-board self-diagnostic equipment to monitor emissions in real time while driving.
Also, READ: Maruti Suzuki stops Alto 800 production in India: Report
The study indicates that domestic sales of commercial cars dropped to 46,823 units in March 2022 from 47,050 units in February 2022. During the fiscal year ending on March 31, 2023, the company sold 9,31,957 units, an increase of 35% over the 6,92,554 units sold in the previous fiscal year, 2021-2022.
(With PTI inputs)
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