Maruti raised prices of Swift by up to Rs 25,000 and Grand Vitara Sigma variant by Rs 19,000, the company said in a press release.
The price hikes are effective immediately, i.e., from April 10, 2024.
Maruti’s shares were down 1.6% to Rs 12,683.65 apiece on BSE Sensex, which was up 0.4% at 1:42 pm. Maruti’s shares however recovered from day’s low of Rs 12,602.90.
Maruti, and other automakers, have been raising car prices over recent years consistently citing increased cost pressure driven by overall inflation and higher commodity prices.
Maruti had raised car prices to the tune of 0.45% in January. The company in November had intimated its intention to increase prices of its models. “The Company has planned to increase the prices of its cars in January, 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices. While the Company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market,” it had said then.