Maruti Suzuki cars will become expensive from January 2023
Maruti Suzuki cars will become expensive from January 2023: The company is planning to increase the price of all its car models
The country's largest car company Maruti Suzuki India Limited has announced to increase in the prices of its cars. From January 2023, the company is planning to increase the prices of all its models. Maruti Suzuki has given this information in the exchange filing on Friday. However, Maruti has not revealed how much the prices of the cars will be increased.
The car company said that it plans to increase the prices of all models due to cost pressure due to inflation and regulatory requirements. Maruti said, “The company makes maximum efforts to reduce costs and partially offset the price increase. However, it has now become imperative to make some impact through price increases. The company has planned to increase the price in January 2023, which will be different in all models.
A day earlier, Maruti Suzuki released its auto sales figures for November 2022. The company sold a total of 1,59,044 units in the month of November, which is 14% higher than the figures of 1,39,184 units in November last year. Total sales for the month of November include domestic sales of 1,35,055 units, OEM sales of 4,251 units and exports of 19,738 units.
The production of vehicles in several segments, including the company's domestic models, was marginally impacted by the shortage of electronic components amid rising sales. However, the company took all possible measures to minimize this impact. The company's domestic sales increased by 18% to 1,39,306 units in November, compared to 1,17,791 units in November 2021 last year. At the same time, sales of mini cars (Alto, S-Presso) have increased to 18,251 units, which was 17,473 units last year.
Sales of the compact segment (Swift, Celerio, Ignis, Baleno and Dzire) have increased to 72,844 units in November from 57,019 units in November 2021 last year. While the mid-size sedan Ciaz's sales stood at 1,554. Maruti sold 32,563 vehicles in the utility vehicle segment (Vitara Brezza, S-Cross, Ertiga) in November this year. The passenger vehicles segment (which includes cars and vans) saw sales of 39,746 units in November.
Talking about exports in the month of November, the company sold 19,738 vehicles. In the light commercial vehicle segment, Maruti sold 2,660 vehicles in November 2022. Meanwhile, it was also reported recently that Maruti Suzuki India expects the company's sales network to touch the 3,700 mark by the end of this financial year. According to a senior company official, the focus is on increasing the production capacity at the Manesar plant to 1 lakh units to meet the increased demand.
Maruti has crossed 3,500 car sales outlets, more than double the 1,300 dealerships it had a decade ago. The company on Friday inaugurated its 3,500th outlet, the Nexa Sales Unit, in Hyderabad. Maruti Suzuki India currently has a presence in around 2,250 cities and towns in India. The company has added 237 sales outlets in 2021-22 and 170 outlets between April-October in this financial year.
"We are likely to touch 3,700 outlets by the end of March," said Shashank Srivastava, senior executive officer, of marketing and sales, at Maruti Suzuki India (MSI). Presently, both the Manesar and Gurugram plants of the company have a cumulative production capacity of over 1.5 million units per annum. Apart from this, the company has a production capacity of up to 7.5 lakh units from the Gujarat plant.