Maruti Suzuki hikes vehicle prices by 1.1% across models, 2nd rise in FY23

Maruti Suzuki India on Monday said it has hiked prices of its vehicles across models by about 1.1 per cent.

This is the second price hike that the carmaker is undertaking in the ongoing fiscal year, after increasing it in April 2022.

In December last year, the company had said it would hike prices of its vehicles to offset the impact of rising input costs and make provisions to update the model range to conform to stricter emission norms which will kick in from April 2023.

"An estimated weighted average of increase across models stands at around 1.1 per cent. This indicative figure is calculated using ex-showroom prices of models in Delhi and will come into effect from January 16, 2023," Maruti Suzuki India said in a regulatory filing.

The company sells a range of vehicles starting from entry-level small car Alto to SUV Grand Vitara which are priced between Rs 3.39 lakh and Rs 19.49 lakh (ex-showroom Delhi).