Maruti Suzuki share price trades flat on price hike plan for all models in January

For the month of October 2023 the company’s production increased by 13 percent to 1,76,437 units from 1,56,067 units in October 2022.

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Maruti Suzuki shares were trading flat in the early trade on November 28 as the company decided to increase the prices of its cars in January, 2024.

At 09:33 am, Maruti Suzuki India was quoting at Rs 10,525.45, up Rs 7.35, or 0.07 percent on the BSE.

“…… has planned to increase the prices of its cars in January, 2024 on account of increased cost pressure driven by overall inflation and increased commodity prices,” the company said.

While the company makes maximum efforts to reduce cost and offset the increase, it may have to pass on some increase to the market.

This price increase shall vary across models, company added.

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On November 24, the Board of Directors of the company, at its meeting, has approved the allotment of 1,23,22,514 equity shares of the company to Suzuki Motor Corporation on a preferential basis.

For the month of October 2023 the company’s production increased by 13 percent to 1,76,437 units from 1,56,067 units in October 2022.

The company had reported its highest-ever monthly sales at 1,99,217 units in October 2023, a 19 percent year-on-year growth against 1,67,520 units in October 2022.

News Report | Maruti Suzuki, M&M, Audi plan price hikes in January

For the September quarter, the company reported a net profit of Rs 3,716.5 crore, an 80 percent increase from the year-ago period. The EBITDA rose nearly 73 percent and the margin expanded by 360 basis points, YoY.

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