Maruti Suzuki has revealed plans to raise prices beginning the next month across its entire model lineup. The choice is intended to lessen the effects of rising prices and regulatory requirements and was made public on Thursday in a regulatory filing. The automaker, however, hasn’t yet specified the precise percentage of the price increase it plans to implement.
Maruti Suzuki has admitted that despite its attempts to cut costs, a price hike will be needed to balance off the effects of numerous causes. Shashank Srivastava, the company’s Executive Director for Marketing and Sales, said in a statement to HT Auto that the price increase was in reaction to both general inflationary pressures and regulatory obligations such RDE rules that take effect on April 1.
The carmaker has already taken steps to ensure that many of its vehicles comply with the new standards, Srivastava continued.
Srivastava claims that Maruti Suzuki has enacted seven minor price increases since January 2021 as a result of growing material costs, which make up 75% of OEM cost structures. Despite these slight increases, the automaker has refrained from making large price increases because of worries about PV sector demand. The business’s careful approach to price increases, according to Srivastava, is because the company “does not want to impair overall demand in the PV market.”
As a sign that the launch is approaching, Maruti Suzuki has announced the beginning of reservations for the CNG version of its well-liked compact SUV, the Brezza. Those who are interested can reserve the vehicle by paying a nominal fee of £25,000. Reports state that the delivery should start in roughly three to four months. Maruti Suzuki originally unveiled the Brezza CNG during the Auto Expo 2023, which took place in January.
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