Maruti Suzuki Increases Prices By 1.1% | Will Sales Go Down?

Maruti Suzuki car prices

New year, new car launches; and new price hikes. Every year in January, OEMs across the country start increasing prices. The primary reason behind this is that every year, the cost of goods, logistics, and other commodities/services goes up. To maintain profit margins, carmakers also inflate the prices of their products. This year, Maruti Suzuki has decided to a hike of 1.1% across its lineup. Other brands like Hyundai, Tata, and Mahindra will also come up with updated prices soon. But will this price hike affect Maruti’s sales? Let’s find that out!

  • Maruti Suzuki 2023 prices

Maruti will be increasing the prices of its cars by 1.1%. The hike will be implemented on the base price, ie, the ex-showroom price. This is going to reflect at dealerships across the country from 16th January 2023. Before this, Maruti had increased prices marginally in April 2022.

  • What is the reason behind price hikes?

The main reason behind price hikes is the overall increase in producing and delivering a car. After the pandemic hit in 2020, the cost of microchips and semiconductors shot up and it never came down. Moreover, with stricter emission norms coming into action, OEMs need to spend more on research and development.

  • Will this affect Maruti Suzuki sales?

In one word, NO. Maruti sales have constantly gone up throughout multiple price hikes and elongated waiting periods. Most Maruti cars like the Alto, Swift, Baleno, and Ertiga sit in a segment where buying a car is more of a necessity than a luxury. Therefore, a hike of ~1% will not come in the way of someone looking to move from one place to another comfortably. Price hikes are a norm in the market and customers have been buying cars through all kinds of hikes.

Do you think these price hikes will result in fewer sales for Maruti Suzuki? If so, then why? Let us know in the comments below!