Maruti Suzuki may hike the prices from 2023


India’s leading automaker, Maruti Suzuki, recently issued an official statement about a price increase scheduled for January 2023.

However, the Indo-Japanese automaker is yet to reveal the details of the price increase. Also, the price increase is expected to vary depending on the model.

Looking closely, all manufacturers are currently under great pressure to control product prices as input costs of various materials are affected by inflation and unfavorable geopolitical conditions. Companies try to absorb some of the input price increase, but sometimes it’s too much for the company to bear the extra cost and it affects the final price.

But this time, Maruti Suzuki’s upcoming price increase is also very much related to upcoming regulatory requirements. Therefore, automakers should be prepared in advance to introduce any upgrades required by the Indian government’s upcoming regulatory requirements.

Additionally, these new regulatory requirements are focused primarily on improving the safety of automobiles, with an emphasis on passenger safety. Analyzing the details, the new regulatory requirements come into force from April 1 and require the mandatory fitting of three-point seat belts and rear seat belt reminders for all front occupants.

Apart from this, the Government of India is looking forward to the introduction of Bharat NCAP in line with global safety standards. However, they are not included in the minimum requirements, such as three-point seat belts and rear seat belt reminders. However, the introduction of Bharat NCAP will push more car manufacturers to create safer cars to improve brand awareness among the public.

Apart from this, the Government of India is looking forward to the introduction of Bharat NCAP in line with global safety standards. However, they are not included in the minimum requirements, such as three-point seat belts and rear seat belt reminders. However, the introduction of Bharat NCAP will push more car manufacturers to create safer cars to improve brand awareness among the public.

From October 2023, the Government of India has made at least six airbags mandatory on all new cars in India. The requirement was due to come into force in October 2022, but the mandate was delayed due to strong opposition from some automakers in India.

Thoughts on Upcoming Maruti Suzuki Price Increases

The price hikes planned for introduction by Maruti Suzuki are intended to manage rising input costs and prepare for upcoming regulatory requirements, but the Indo-Japanese automaker’s sales figures are expected to decline slightly over the coming months. However, sales will soon pick up to overcome the next major price increase that will follow around October 2023.


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