Maruti Suzuki, India’s automotive giant, witnessed a commendable 1% surge in its stock values following the recent revelation of a forthcoming price hike set to take effect from January 1, 2024. In an official statement, the Indo-Japanese automaker attributed the price adjustment to escalating cost pressures triggered by overarching inflation and a surge in commodity prices.
As of 9:43 am, shares were in the midst of trading at ₹10,523.15, marking a subtle but noteworthy 0.071% increase. Despite tireless efforts to mitigate costs and absorb the impact internally, Maruti Suzuki conceded that some of the burden may inevitably be transferred to consumers. While specific details regarding the extent of the price hikes across various models remain undisclosed, all indications point towards a comprehensive adjustment.
As the frontrunner in the Indian automobile industry, Maruti commands an impressive market share of approximately 45%. The company’s recent accolade includes achieving its all-time high monthly sales of 1,99,217 units in October, reflecting a robust 19% year-on-year growth. A significant leap from the 1,67,520 units dispatched in October 2022, this milestone reinforces Maruti Suzuki’s dominance in the ever-evolving automotive landscape.
