Maruti Suzuki to Increase Prices of its Vehicles from Next Month

The country’s largest car maker Maruti Suzuki will increase the prices of all its vehicles from next month. The company said that the reasons behind this are cost escalation and regulatory requirements. However, Maruti has not said by how much the prices of the vehicles will be increased.

The company said in a regulatory filing that it is making efforts to reduce costs and it has become necessary to pass on some of the increase in cost through price hikes. Maruti has made changes to many of its models to meet the new emission norms. The company has increased the prices of vehicles seven times in about two years. Maruti Apart from this, Honda Cars, Tata Motors and Hero MotoCorp have also announced to increase the prices of their vehicles from April. Automobile companies have started modifying their vehicles to meet the BS 6 Phase II norms. These norms are similar to Euro 6 emission norms.

From next month, vehicles will be required to be equipped with a device to monitor the levels of emissions while driving. Maruti’s total sales in February increased by almost five percent to 1,72,321 units. It was 1.64 lakh units in the same month last year. The company’s passenger vehicle sales in the country grew by almost 10 percent to 1,47,467 units. However, its exports have decreased by 28.4 percent.

Maruti had said that its total sales last month included domestic sales of 1,50,823 units, sales of 4,291 units to other OEMs and exports of 17,207 units. company sold 1,01,773 units in the mini and compact segments. The figure stood at 97,486 units in the same month last year. In this segment, the company has sold 10,12,526 units in the current financial year. This figure stood at 8,18,838 units in the first 11 months of the last financial year. The company’s midsize sedan Ciaz sold only 792 units last month as against 1,912 units sold in the same month last year. In the utility vehicle segment, the company’s sales of Brezza, Ertiga, S-Cross, XL6 and Grand Vitara stood at 33,550 units last month.

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