Auto Sales In The Slow Lane: Maruti Suzuki Cuts Prices Of Alto K10, S-Presso Models

Auto major Maruti Suzuki has decided to cut the prices of some of the variants of its entry-level cars, Alto K10 and S-Presso, with immediate effect.

Alto K10 VXI Petrol: ₹6,000 Price Cut

In a regulatory filing, the company informed the stock exchanges that it is reducing the price of its Alto K10 VXI Petrol variant by ₹6,000. According to car search website Cardekho, the on-road price of this variant of Alto K10 in Delhi currently stands at around ₹5,60,000.

S-Presso LXI Petrol: ₹2,000 Price Cut
Maruti Suzuki has also reduced the price of S-Presso LXI Petrol variant by ₹2,000. This car, according to Cardekho, currently has an on-road price of ₹5,49,951 in Delhi.

Auto Sales In The Slow Lane
The price cut announcement comes at a time when auto sales have hit a speed bump. Maruti Suzuki, the Indian arm of Japanese auto giant Suzuki, saw its total domestic passenger vehicle wholesales drop eight percent in August.

Maruti’s August 2024 wholesale dispatches dropped to 1,43,075 units compared to 1,56,114 units in the year-ago month. Sales in the mini segment, comprising Alto and S-Presso, dropped to 10,648 units last month versus 12,209 units in August 2023.

Production Adjustment Plan
As sales enter a rough patch, Maruti Suzuki is also planning to adjust its production. Last month Maruti’s parent company Suzuki Motor Corporation (SMC) told analysts, “We are currently adjusting production to reduce market stock and are closely monitoring demand trends. India will be in a critical period with the upcoming festival season, so we will closely monitor demand trends.”

Auto Sector Challenges

It’s not only Maruti Suzuki that’s facing the slowdown in sales. Other car makers such as Hyundai and Tata Motors have also reported decline in wholesales in August.Korean auto giant Hyundai reported an 8 per cent dip in domestic dispatches in India last month at 49,525 units, from 53,830 units in the year-ago period.

Similarly, Tata Motors reported a 3 per cent dip in passenger vehicle wholesales at 44,142 units last month as compared to 45,513 units in the year-ago month.