Maruti Suzuki has just raised prices of three of its best-selling models in India. The models that are impacted include the Wagon R, XL6, and Ertiga. As per the company's recent price revision, the prices of these models have risen by up to ₹14,000.
The Wagon R, a favorite among compact car buyers, has seen a price increase ranging from ₹4,000 to ₹8,000 across its various trim levels. This price adjustment is likely to impact the model's sales, given its competitive pricing and popularity in the segment.
The XL6, which is the high-end variant of the Ertiga-based crossover, has also risen in price. The price boost of the XL6 varies from ₹6,000 to ₹10,000 based on the trim. The hike could hamper the demand of the model for customers who desire a stylish and feature-laden car in the compact MPV segment.
The Ertiga, a favorite among family customers, has witnessed its price being hiked up to ₹14,000. The prices of the model now begin from a higher base, which may affect its sales, given the competitive compact MPV segment.
The increase in price is due to several reasons, such as higher production costs, higher raw material prices, and adherence to more stringent safety and emission standards. Maruti Suzuki, as with other manufacturers, is facing the dilemma of maintaining profitability while offering competitive pricing in a changing market.
The hike in price may influence potential customers to reconsider their buy decision, particularly in a market with high competition. Nevertheless, with the extensive brand presence and loyal customer base of Maruti Suzuki, the effect on sales may be countered to some level.
Purchasers who are interested in these models need to take into account the new pricing and features before they make a buying decision. With the price increase, Maruti Suzuki is looking to sustain its profitability while still providing value to its customers through its lineup of models.