- 12 Apr 2024
- ICICI Securities
SELECTIVELY INCREASES PRICES ACROSS ITS TWO NAMEPLATES NAMELY SWIFT AND GRAND VITARA
MARUTI - 11894 Change: -13.00 (-0.11 %)News: Maruti Suzuki in a regulatory filing has informed that it has increased prices for Swift model (hatchback) and selected variants of Grand Vitara (SUV) w.e.f. 10th April, 2024. Prices of Swift have been raised by up to ₹ 25,000/unit and Grand Vitara Sigma variant by ₹ 19,000/unit.
Views: Swift and Grand Vitara are one of the top selling models at Maruti in their respective segments with Swift annual sales volumes pegged at ~ 1.9 lakh units (up 8% YoY) for FY24E and Grand Vitara annual sales volume pegged at ~ 1.2 lakh units (one of the recent launches and main driver for growth in this segment). We feel the price hike in the said models is more opportunist in nature given their relatively healthy demand traction and should be earnings accretive for the company going forward.
Impact: Positive