Maruti Suzuki cars to become expensive from Jan 2024! Automaker announces price hike
BSE filing, the automaker informed that due to increased pressure, it has decided to hike prices of the cars."The Company has planned to increase the prices of its cars in January 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the company makes maximum efforts to reduce costs and offset the increase, it may have to pass on some increase to the market," MSI informed the stock exchanges today. The company, which sells a range of vehicles from entry-level small car Alto to multi-utility vehicle Invicto, priced between ₹3.54 lakh and ₹28.42 lakh (ex-showroom Delhi), however, did not specify the quantum of the proposed price hike.
The price increase will vary across models, Maruti Suzuki added. Maruti Suzuki’s board approves increase in Suzuki Motors stake by 2% On 1st April this year, Maruti Suzuki increased the prices of its vehicles across all models. Prior to this in January 2023, the company had said that it hiked the prices of its vehicles across models by about 1.1%.
Notably, Maruti Suzuki India (MSI) reported its highest-ever monthly sales at 1,99,217 units in October, a 19% year-on-year growth. Maruti Suzuki board to consider preferential allotment of shares on Nov 24 The country's largest carmaker had dispatched 1,67,520 units in October 2022. MSI also reported its best-ever domestic monthly dispatches in October at 1,77,266 units, up 21% from 1,47,072 units in the year-ago period.
MSI said its exports in October 2023 stood at 21,951 units compared to 20,448 units in the same month last year. Auto sector sees better profitability in Q2 driven by soft raw material prices On Friday, the MSI shares fell 0.072% to ₹10,481. Markets are closed today, Monday,
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