Apr 10, 2024
Maruti Suzuki, India's leading automaker, announced another price increase effective on Wednesday. This time, the popular Swift hatchback and select variants of the Grand Vitara Sigma will see a significant price jump.
The Swift — which currently ranges between INR 5.99 lakh and INR 9.03 — will become INR 25,000 more expensive, while the Grand Vitara Sigma variant — priced between INR 10.80 lakh and INR 20.09 lakh — will cost buyers an additional INR 19,000.
This price revision follows a similar hike of 0.45% implemented across all models in January. The company attributed both instances to rising input costs due to inflation and a surge in commodity prices.
Despite the price hikes, Maruti Suzuki seems to be on a roll. The company reported strong sales figures for March, achieving a total of 187,196 units across domestic and international markets. Domestic sales itself saw a 14% increase compared to March 2023, reaching 156,330 units.
Additionally, Maruti Suzuki exported 25,892 units and sold 4,974 units to other Original Equipment Manufacturers (OEMs) in March.
Looking at the bigger picture, Maruti Suzuki closed the 2023-2024 financial year with record-breaking sales. The company achieved a total of 2,135,323 units, with domestic sales reaching 1,793,644 units and exports hitting 283,067 units. While the price hikes may pinch some buyers, Maruti Suzuki's strong sales performance indicates continued customer demand despite the rising costs.
