Maruti Suzuki Eyes Price Hike Amid Soaring Commodity Costs, Strong Demand

• Maruti Suzuki India is considering increasing vehicle prices due to rising commodity costs, despite strong market demand post-GST rate reductions.
• The company currently faces production constraints with 1.75 lakh pending orders and received 2.78 lakh bookings in January alone.
• Senior Executive Officer Partho Banerjee stated that while precious metal prices have seen a phenomenal increase, Maruti aims to minimize cost increases for customers.
• A price protection scheme was initiated in January for customers who booked vehicles but faced supply delays, ensuring no price hike for them.
• Maruti Suzuki posted its highest-ever monthly total sales of 2,36,963 units in January, with exports also reaching an all-time monthly high of 51,020 units.

Why It Matters: Maruti Suzuki plans a potential price hike due to escalating commodity costs, balancing strong demand with production challenges.