Automobile Price Increase by Tata Motors and Maruti Suzuki
Following Tata Motors’ recent increase in prices for three popular commercial vehicles ★Ace, Intra, and Winger, automobile experts predict a potential slowdown in passenger vehicle sales due to rising prices by several companies. They forecast a possible slowdown in sales towards the end of the current fiscal year.
Maruti Suzuki Announces Price Hike
As hinted in earlier media reports, India’s largest passenger vehicle manufacturing company, Maruti Suzuki, has announced a price hike for all its car models in India. The per car model price has been increased by 0.45%, effective from yesterday. The company attributes the price increase to inflation and rising costs of raw material purchases. Maruti Suzuki had hinted last year in November that car prices would increase from the new year.
Maruti Suzuki and Other Companies Increase Car Prices
Referring to last year’s price increase, Maruti Suzuki stated that the price hike in cars was due to some increase in production costs and the price of auxiliary equipment. However, not just Maruti, other companies have also increased their car prices. These include Tata Motors, Honda, Mahindra, Hyundai, Skoda, and Audi.
Maruti Suzuki Sales Decline
According to the recently released December 2023 sales report, Maruti Suzuki’s sales have seen a decline of 1.28%. In December 2023, Maruti Suzuki sold 1,37,551 units of cars. In comparison, Maruti sold 1,39,347 cars exactly a year ago in 2022. Worryingly, compared to December 2022, last month also saw a 29% decline in sales of small hatchbacks like Alto and Celerio.
- Tata Motors and Maruti Suzuki have increased the prices of their vehicles.
- Maruti Suzuki has increased the price of all its car models in India by 0.45%.
- Other automobile companies like Honda, Mahindra, Hyundai, Skoda, and Audi have also increased their car prices.
- Maruti Suzuki’s sales have seen a decline of 1.28% in December 2023 and a 29% decline in sales of small hatchbacks like Alto and Celerio.
