Maruti Suzuki To Increase Car Prices At The Beginning of 2021

Maruti Suzuki, the largest-seling carmaker in India, has confirmed that it will increase the prices of its range of vehicles at the beginning of January 2021. An increase in manufacturing cost has been cited as the major reason for the upcoming price hike. What this means is that the wide range of Maruti models, which include hot-selling models like S-Presso, Swift, Baleno and Vitara Brezza, will soon get dearer. 

Maruti Suzuki will increase the prices for all of its models from January 2020 

It is common for car manufacturers to revise their prices at the beginning of the year. Maruti Suzuki will do the same in the upcoming year. However, the details of the new price scheme are not revealed yet. The new official prices will be announced later and will go into effect from January 1^st.

At the moment, Maruti Suzuki’s line-up is offering the Maruti Alto as the entry-level model which is priced at Rs 2.95 lakh. Maruti XL6 is currently the flagship model of the Indo-Japanese car brand, and this MPV will cost you up to Rs 11.52 lakh. It is likely that Maruti Suzuki will apply the specific price hike percentage across the range. It also means that the most expensive model will receive the biggest price hike. On the other hand, Maruti Alto will get the minimum price increment.

Commenting on the upcoming price changes, Maruti Suzuki said:

“Over the past year, the cost of the company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in January 2021.”

Maruti Jimny will be launched in the Indian market next year

2020 has been a difficult year for all car brands in India and in the global market. The extended lockdown put the car retailing and car manufacturing on hold for months, which has severely impacted car sales. After the lockdown is relaxed, the automotive market has bounced back gradually. However, it is still a slow-selling period for the entire industry. In November, Maruti Suzuki has registered a YoY sales decline of 2.5% with only 1,35,775 units sold, against last year’s 1,39,133 units.

At the moment, Maruti Suzuki is remaining a wide range of vehicles in the mass market. Apart from the existing models, in 2021, Maruti Suzuki is planning to launch the new Maruti Jimny which was showcased at the 2020 Auto Expo.

Up to this point, Maruti Suzuki is the first car manufacturer to announce its price change next year. Other car brands are expected to make their moves soon.