The carmaker said that the move is being made to combat in light of rising input costs and operational expenses. The prices will increase from January 2025.
The price hike is expected to be up to 4% and will vary depending on the model.
While the company said it continuously strives to optimize costs and minimize the impact on its customers, some portion of the increased cost may need to be passed on to the market.
Maruti had a decent run at the bourses this year rising as much as 20%.
Analysts expect Maruti Suzuki’s performance ahead to be healthy on a steady FY24-27e 6% volume CAGR. Anand Rathi expected domestic volumes to record a 5% CAGR on higher income levels, re-bound of first-time buyers (pending recovery), rural demand (the good monsoon), launches (Dzire, eVX, MPV) and more support from financiers.The brokerage has a recommendation to buy the stock with a target price of Rs 13,800.
In the recent second quarter, Maruti reported a 17% drop in its standalone net profit at Rs 3,069 crore, while revenue from operations during the quarter stood at Rs 37,203 crore, a marginal increase of 0.37%
