Maruti to hike their car prices from 2024: Maruti Suzuki India, the country s leading car manufacturer, has announced plans to raise vehicle prices in January 2024. The decision is attributed to the impact of overall inflation and increased commodity rates, which have put pressure on costs.
Maruti to hike their car prices from 2024: Maruti Suzuki India, the country s leading car manufacturer, has announced plans to raise vehicle prices in January 2024. The decision is attributed to the impact of overall inflation and increased commodity rates, which have put pressure on costs.
Maruti Q2 Sales: In Q2, the carmaker took leadership in the SUV segment, supported by new model launches. It achieved a market share of 23.3% in the SUV segment and recorded the highest ever quarterly sales of CNG vehicles of about 1.18 lakh units.
The market for the entry level cars has not improved at all this year. In the July to September 2023 quarter, it has gone down quite significantly. Maruti Suzuki, which grew its profit by 78% in Q2 on the back of SUV sales, believes that for a high level of sustained growth in the car industry in future, rise in demand of small cars is necessary. Going forward, the company s Chairman RC Bhargava sees the demand for entry-level car segment to gradually return in the next 2-3 years on the back of economic growth, better income levels, increased affordability, and no major impact of new regulatory norms.
Maruti Suzuki Sales: Anticipating a robust growth in India s passenger vehicle market, with projections to surge from slightly over 4 million units in 2023-24 to 6 million units by the set target year, Suzuki Motor Corporation (SMC) envisions substantial expansion.