Maruti Suzuki To Increase Car Prices From February, Celerio Sees Highest Hike
Maruti Suzuki has confirmed a price hike across several models, citing inflation and input costs, with the Celerio facing the highest increase of Rs 32,500 from February.
Maruti Suzuki India Ltd. has announced a price hike across several models due to rising input costs and operational expenses. The price increase will come into effect from Feb. 1, with the most significant hike affecting the Celerio model, which will see an increase of up to Rs 32,500, according to a statement to the exchanges.
The country's largest carmaker said that the increase in prices was due to the impact of higher input costs and inflationary pressures. While Maruti Suzuki has made efforts to optimise costs and minimise the impact on customers, it stated that it is constrained to pass on some of these increased expenses to the market.
Automotive manufacturers are facing higher input costs as raw material, logistics, and production expenses continue to rise. The increase in raw material prices is driven by global supply chain disruptions and growing demand, according to global ratings agency S&P Global.
The possibility of new tariffs under US President Donald Trump’s administration has added uncertainty, which could further increase cost pressures in the industry.
The Celerio will see the highest increase of up to Rs 32,500, followed by the Invicto at up to Rs 30,000 and the Grand Vitara at up to Rs 25,000.
The Baleno will cost up to Rs 20,500 more, while the Alto K10 will see an increase of up to Rs 19,500. The Ertiga’s price will rise by up to Rs 15,000, the S-Cross by up to Rs 12,500, and the XL6 by up to Rs 11,000.
The Dzire will see a hike of up to Rs 10,550, the Super Carry up to Rs 10,000, the Brezza up to Rs 9,000, and the Waggon-R up to Rs 8,000.
Meanwhile, Ignis will rise by up to Rs 6,000, the Fronx by up to Rs 5,500, and both the Swift and S-Presso by up to Rs 5,000. The Ciaz and Jimny will see the smallest increase of up to Rs 1,500.
The scrip rose as much as 0.72% to Rs 12,106.30 apiece. It gave up gains to trade 0.03% lower at Rs 12,017 apiece, as of Rs 12,017.15 p.m. This compares to a 0.26% advance in the NSE Nifty 50 Index.
It has risen 21.87% in the last 12 months. Total traded volume so far in the day stood at 1.17 times its 30-day average. The relative strength index was at 61.
Out of 48 analysts tracking the company, 36 maintain a 'buy' rating, nine recommend a 'hold,' and three suggest'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 10.8%.
