Maruti hits a life time high
Maruti Suzuki has hit a life time high today at Rs.5000 and that is thanks to its announcement of price increases.
The price hike is on select model, in the range of Rs.1500 to Rs.5000, ex-showroom Delhi, effective yesterday. The price of its newly launched models like Vitara Brezza is being increased by upto Rs.20,000 and that of Baleno by Rs.10,000. The company said that prices have been hiked after taking into account factors like segment wise demand, forex movements and strategic objectives of the company.
The first day on the month is also the day when companies announce their past monthly sales numbers. And for July, Maruti recorded a 13% (YoY) jump in unit sold at 1.37 cars – the highest recorded sales ever in the Indian markets for the company. Its exports were more or less static, up just 0.3% at 11,388 unit.
Naturally, increasing sales and now price hike, plus with sales expected to get an impetus from money coming into the hands of Govt employees on account of the 7th Pay Commission; all bodes well for the company in the coming months.