Last month, Maruti Suzuki revealed that the brand will be increasing the prices of its cars in India in a regulatory filing. Now, with effect from 12th July 2021, Maruti Suzuki cars are around INR 10,000 to INR 15,000 dearer than before. This is the third time the automaker is increasing the prices. The reason for the price hike is the increase in input costs. The cost of raw materials in the Indian market have reportedly risen, and so has the freight charges. The brand wants to pass on some of the increased input costs to the customer in a controlled price hike.
The Maruti Suzuki model that gets affected the most is the Maruti Suzuki Swift. The hot hatchback is now ~ INR 15,000 dearer in the Indian market. Other Maruti Suzuki S-CNG models are now pricier by ~INR 10,000. These models include the Alto 800, S-Presso, Celerio, WagonR, EECO, Ertiga, Dzire Tour S and Super Carry.
It is also important to note that, this year, Maruti Suzuki hiked the prices in January and then again in April 2021. The initial price hike made Maruti Suzuki cars dearer by INR 5,000 to INR 34,000 on the ex-showroom price. Despite this, the brand managed clock sales of 1,47,368 units in June 2021. In the first quarter of 21-22, Maruti Suzuki managed to sell 3,53,614 units. But the brand revealed that the first-quarter sales in both 21-22 and 20-21 were slow due to the lockdown restrictions and the pandemic.
To empower its customers and enable them to easily acquire Maruti Suzuki cars in India, the brand also announced new financial plans for both Nexa and Arena customers. The brand initiated the finance scheme in December 2020 and reports that 25 lakh inquiries have been made since then. Under the Maruti Suzuki Smart Finance plan, the brand offers various loan plans customised for working professionals, self-employed and no-income proof individuals. Forty thousand customers have downloaded the finance sanction letter online, enabling customers to exchange their old cars with new ones.
Also Read: Maruti Suzuki announces online Smart Finance