Maruti Suzuki India, the biggest passenger automotive producer in India, on Tuesday introduced a rise in costs of its whole mannequin vary with speedy impact amid rising value strain attributable to excessive commodity costs.
An estimated weighted common of enhance throughout fashions stands at round 0.45%, Maruti Suzuki India stated in a regulatory submitting.
This indicative determine is calculated utilizing ex-showroom costs of fashions in Delhi and can come into impact from sixteenth January, 2024, it added.
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The corporate had on April 1 final yr raised costs throughout all its car fashions.
Maruti Suzuki India sells a spread of automobiles ranging from Alto to Invicto, priced between ₹3.54-28.42 lakh (ex-showroom).
In December 2023, Maruti Suzuki bought a complete of 137,551 items, registering a drop of 1.28% from 139,347 items bought throughout December 2022. The corporate’s complete gross sales within the month embody home gross sales of 106,492 items, gross sales to different OEM of 4,175 items and exports of 26,884 items.
For the primary time, the corporate crossed the annual gross sales milestone of two million items in calendar yr 2023, which incorporates its highest ever calendar yr exports of 269,046 items.
Maruti Suzuki India’s manufacturing in December additionally declined almost 3% to 121,028 items from 124,722 items, YoY.
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Final week, Maruti Suzuki introduced to speculate about ₹32,000 crore to determine an vehicle plant in Gujarat that can ultimately produce about 1 million automobiles yearly. The plant is predicted to start operations in FY2028-29.
The auto main will make investments one other ₹3,200 crore to arrange a fourth manufacturing line at its wholly owned subsidiary Suzuki Motor Gujarat Pvt. Ltd for growing manufacturing of electrical automobiles.
Maruti Suzuki share value gained after the announcement of hike in car costs.
At 12:25 pm, Maruti Suzuki shares had been buying and selling 1.32% greater at ₹10,219.20 apiece on the BSE.
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Printed: 16 Jan 2024, 12:27 PM IST
Supply: Live Mint