Maruti Suzuki, India’s largest car manufacturer, has announced a price increase for two of its popular models – the Swift hatchback and the Grand Vitara SUV. This adjustment comes into effect immediately, adding to the rising car ownership costs in India.
Price bump for Swift and Grand Vitara Sigma
- The Maruti Suzuki Swift will see a price hike of ₹25,000 across all its variants.
- The price increase for the Grand Vitara is limited to the Sigma variant, which will now cost ₹19,000 more.
Following a trend of rising input costs
This price hike comes after Maruti Suzuki raised prices by 0.45% across all models in January 2024. The company cited rising input costs due to inflation and commodity prices as the reason behind the earlier increase. The latest announcement suggests a continuation of this trend.
Impact on potential car buyers
The price hikes can potentially dampen the buying sentiment for these Maruti Suzuki models. With rising fuel prices and now car prices, the overall cost of car ownership is becoming a concern for many potential buyers.
Maruti Suzuki’s justification
Maruti Suzuki has likely absorbed some of the increased input costs for a while, but the current market situation necessitates passing on some of the burden to the customers. The extent of the price hike might vary depending on the variant.
Alternative options for car buyers
Prospective car buyers might consider exploring options from other manufacturers in the same segment to compare prices and features before making a decision.
Despite the price hike, Maruti Suzuki is likely to remain a dominant player in the Indian car market due to its extensive service network, brand trust, and fuel-efficient cars. However, the company might face increased competition from other manufacturers offering similar features at potentially lower prices.