Maruti Suzuki has raised the prices of its cars in India. The company reports that the increase will average around 0.45 percent across various models.
This adjustment, initially disclosed in November, officially takes effect from January 16, impacting the Ex-Showroom prices in Delhi.
Maruti Suzuki dominated passenger vehicle exports from April to December, dispatching 2,02,786 units, showcasing a 6 percent growth from the previous year. During the same period, Hyundai Motor India exported 1,29,755 units in the third quarter of the fiscal year, marking an increase from the 1,19,099 units shipped last year, as reported by Business Today.
Other players in the market, such as Kia India, Volkswagen, Nissan, and Honda Cars, also contributed to the export trends. Rajesh Menon, the Director General of SIAM, attributed the growth in passenger vehicle exports to new launches and increased demand in markets like South Africa and the Gulf region.
However, last year saw a 21 percent decline in India’s car exports due to financial troubles and political issues in foreign markets. Data from the Society of Indian Automobile Manufacturers (SIAM) reveals a total export figure of 42,85,809 units, down from 52,04,966 units in 2022. Despite the overall decrease, passenger car exports saw a 5 percent rise to 6,77,956 units.
On the flip side, exports of commercial vehicles, two-wheelers, and three-wheelers experienced declines. Two-wheeler exports dropped by 20 percent to 32,43,673 units, commercial vehicle shipments fell to 68,473 units, and three-wheeler exports decreased by 30 percent to 2,91,919 units.
The boost in passenger car exports can be attributed to a smoother supply chain compared to the previous year. However, issues with foreign exchange availability led to low demand for two and three-wheelers in certain regions where they are sold.
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