Maruti Suzuki, the country’s largest automaker, has announced its price hike and the reason given by the company is the rising input cost. The new pricing has come effectively from 18th January and the price hike is up to INR 34,000 across the range of products from Maruti Suzuki. In fact, many other carmakers have also announced their price hikes in the past month or so. The prominent price hikes include Mahindra’s 1.9% which led to a price increase up to INR 40,000, Skoda and Volkswagen’s 2.5% increase and then Honda, Ford, BMW Group, Renault and Nissan also followed up with their price hike announcements.
In terms of numbers, the Ertiga will see the maximum jump in the ex-showroom price with a hike of INR 34,000. Swift, which was the top-selling car in India for the year 2020 with a cumulative sales of 1,60,765 units will see an increase in price by INR 30,000. Alto which came in the second position selling 1,54,076 units in the overall yearly sales chart of 2020, will receive a price hike of INR 14,000. WagonR which was the top-selling model in the hatchback segment with a cumulative yearly sales of 1,48,298 units will get a price hike of INR 23,300. Maruti Suzuki Dzire, the market leader in the compact sedan segment will get a price hike of INR 12,500. Eeco led the utility segment with an annual sale of 1,24,105 units and its price was hiked by INR 24,200.
Maruti Suzuki again ended the 2020 year in the top position selling a total of 12,14,660 units which translates to almost 50% of the market share. In the top 20 sales chart, 10 positions are taken by Maruti Suzuki which shows how much Indians trust the brand. Though this might change as evident from the growth of the Korean siblings, Hyundai and Kia who are dominating especially in the SUV segment, recently, Maruti Suzuki is reportedly readying itself to bring back its diesel power mills which will be first introduced in the Ciaz and Ertiga which will help them regain more share in the Indian market.