Utility

Prices for all models will increase at Maruti Suzuki India in January

Maruti Suzuki India declared on Monday that it would increase car prices starting in January 2024, citing cost pressures brought on by high commodity prices and general inflation.

In a regulatory filing, Maruti Suzuki India stated, “The company has planned to increase the prices of its cars in January, 204 on account of increased cost pressure driven by overall inflation and increased commodity prices.”

The statement went on, “The company may have to pass on some increase to the market even though it is making every effort to cut costs and offset the increase. The price increase will differ for each model.

Also Read: Five more people are arrested in Karnataka, police continue their probe into a sex determination racket

The company did not reveal the precise scope of the impending price adjustment. The company offers a wide range of vehicles priced between ₹3.54 lakh and ₹28.42 lakh (ex-showroom Delhi), including the multi-utility vehicle Invicto and the entry-level small car Alto.

German luxury automaker Audi announced earlier in the day that it will increase the price of its cars in India by up to 2% starting in January of next year, citing increased operating and input costs.

According to a statement from Audi India, the price increase will apply to all model ranges and take effect on January 1, 2024.

In relevant news, Maruti Suzuki India announced that its board had authorized the preferential allotment of more than 1.23 crore shares to its parent company, Suzuki Motor Corporation (SMC), for the purpose of buying out Suzuki Motor Gujarat.

Also Read: CM Bhupendra Patel visits Yamanashi Hydrogen Co in Japan, invites it to Vibrant Gujrat Summit

The auto major stated in a regulatory filing that the board of the company has approved the allotment of 1,23,22,514 shares, each with a face value of ₹5, to SMC at a price of ₹10,420.85 per share.

The value of ₹12,841.1 crore corresponds to the ₹10,420.85 price per share that the Maruti Suzuki board approved, according to the valuation report released by RBSA Valuation Advisors LLP. SMC’s ownership of Maruti Suzuki India (MSI) will rise from its previous 56.48 percent to 58.19 percent following the allotment.

Naiteek Bhatt

Recent Posts

Gautam Adani Hails Puri Lifeguards As Unsung Heroes During Rath Yatra Visit

Gautam Adani, Chairman of the Adani Group, visited Puri in Odisha during the annual Rath…

7 hours ago

Acharya Pramod Krishnam Slams Congress Over ‘Internal Emergency’ Allegation

Acharya Pramod Krishnam, stirred political debate by claiming an 'internal emergency' still exists within the…

7 hours ago

MRM Meeting: Pledge for Global Peace, Green India, De-addiction & Democratic Integrity

Taking a crucial step toward positive transformation, social reform, and global peace, the Muslim Rashtriya…

7 hours ago

India To Host 2029 World Police & Fire Games; Amit Shah Hails Global Recognition

India has been chosen to host the prestigious 2029 World Police and Fire Games in…

8 hours ago

Seeing The Lord Among Devotees Is The Pinnacle Of Humility: Gautam Adani At Rath Yatra

Gautam Adani, along with his wife and Karan, participated in the Rath Yatra in Puri,…

10 hours ago

PM Modi Interacts With Group Captain Shubhanshu Shukla Aboard The ISS

PM Narendra Modi interacted with Group Captain Shubhanshu Shukla, the first Indian to reach the…

11 hours ago