Due to rising input costs and operational expenses, Maruti Suzuki India (MSIL) on Thursday said it will increase car prices from February 1. The increase will range between ₹1,500 and ₹32,500.
“While the company is committed to optimise costs and reduce the impact on the customers, we are constrained to pass on some of the increased expenses to the market,” MSIL said in a filing to stock exchanges.
Under the revised ex-showroom prices, MSIL’s compact car Celerio will see the highest increase across all models, by up to ₹32,500, followed by its largest vehicle in the fleet, lnvicto, by up to ₹30,000.
The lowest increase in prices, by up to ₹1,500, will be on its sports utility vehicle (SUV) Jimny and mid-size sedan Ciaz.
In the entry-level small cars Alto K10 and S-Presso, the prices will go up by up to ₹19,500 and ₹5,000 respectively, MSIL said.
The company’s popular model Wagon-R’s prices will go by up to ₹15,000 while that of Swift by ₹5,000. It’s most sought after SUV Brezza’s prices will go up by up to ₹20,000 and that of mid-size SUV Grand Vitara s by up to ₹25,000.
It’s premium compact model Baleno’s price will go up by up to ₹9,000, compact SUV Fronx by up to ₹5,500, and that of compact sedan Dzire by up to ₹10,000, the company said.
Similarly, for its multi-purpose vehicles Ertiga and XL6, will see price hikes of up to ₹15,000 and ₹10,000 respectively.
MSIL in December had announced that it will increase the prices across all models effective January 1. However, it did not decide on the quantum of the price hikes for each vehicle.
Other manufacturers such as Mahindra & Mahindra, Hyundai Motor India, JSW MG Motor, Nissan Motor India and Tata Motors had also announced for price hikes effective January. In the luxury vehicle segment, companies including Audi India, BMW Group India and Mercedes-Benz India also had announced for price hikes from January.