It is a car brand that is no stranger to anyone, whether a car lover or simply an enthusiast or for that matter anyone belonging to different walks of life.
It is a car brand that, truth be told, is a household name in the world’s largest democracy- India.
And it’s Maruti Suzuki that is heading toward a price escalation in the coming few days. As we embrace the new year 2020, India’s favorite carmaker is going towards a price hike.
So where it stands at the moment that Maruti Suzuki cars, be it the S-Presso, Alto, Swift, Brezza and every other model will become more expensive starting January 2020.
But it appears that the decision by Maruti to head toward a price hike in its costs of cars had a direct bearing in the car brand’s functional performance in the year 2019.
The forthcoming price hike pertains to a steady increase in several input costs at Maruti’s end.
That said, it is important to note that this announcement is yet to be made public by the famous car brand.
Although, the company has already made an announcement with the National Stock Exchange of India.
But it’s important to dwell on the decision of the price hike. The rising input costs over the past year have affected the automaker while at the same time the company is yet to reveal information about the quantum of the impending price hike.
In a written statement to the National Stock Exchange ltd., the renowned carmaker expressed the following intent:
Maruti Suzuki said, “You are kindly informed that over the past year, the cost of Company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price increase across various models in January 2020. This price increase shall vary for different models.“
All of that said, what is important to know how might Maruti’s market performance fare in the times to come, now that the price escalation has been confirmed.
Will an increase in price affect the sales of Maruti Suzuki India? With a lot of car brands and models available in the market and emerging new players like MG motors and KIA, will the price hike across all segment affect India’s favorite carmaker?