New Delhi, April 10
Maruti Suzuki has increased the prices of its highest-selling car Swift and selected variants of the Grand Vitara with effect from April 10, stated a release by the company.
According to the company's announcement, the prices of Swift have been increased by up to Rs 25,000, while the Sigma variant of the Grand Vitara witnessed an increase of Rs 19,000.
This is the second time Maruti Suzuki has hiked the price of its cars. Earlier in January also the company has increased the prices.
The company statement has not specified any reason for the price hike.
Maruti Suzuki holds over 43 per cent market share in the passenger vehicle segment in India. According to Nomura's report, in the four-wheeler segment, market leader Maruti Suzuki's domestic sales registered a YoY 15% growth to reach at 153K in March 2024, excluding the light commercial vehicles.
The report also reveals that in March 2024, India's passenger vehicle segment grew by 10% while there was a decline of 11% in sales of commercial vehicles. Maruti Suzuki started its production in India around 40 years and 4 months ago in December 1983.
The company commenced exports in 1987 and today contributes nearly 40 per cent of the total vehicle exports from India. Recently Maruti Suzuki has reached the cumulative milestone of producing over 3 crore car units in India.