2024 Maruti Suzuki Swift Price Expectation - With Logic
Maruti Swift 2024 Variants
There are no points for guessing this part. Obviously, it’ll get the same LXI, VXI, ZXI and ZXI Plus variants. A few of them will get the CNG bi-fuel option just like it’s right now.
In addition, the Swift could also get a couple of Sport or RS variants with the turbo petrol engine. Meanwhile, we’re fairly confident that the Swift won’t get the hybrid powertrain option. To find out why we think the Swift will get a turbo but not a hybrid, you can go through the following article: Maruti Suzuki’s Next-Gen 2024 Swift Tentative Launch Timeline
How We Arrived At Rs. 6.35 Lakh Starting Price For The New Swift 2024?
When I was going through the launch prices of every new generation Swift, I noticed a funny pattern. The 2nd gen Swift’s launch price for the base variant was about 9% higher than the launch price of the 1st gen Swift base trim’s launch price. The 3rd gen Swift’s base model launch price was about 18% higher than the 2nd gen Swift’s starting price at the time of introduction.
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With that in mind, it appears that the 4th gen Swift could cost either 27% more than 3rd gen Swift’s base model launch price or 36%. 27% would mean that the pattern adds 9% to the base model’s launch price for every subsequent generation update. That’s 9% → 18% and 18% → 27%. Meanwhile, 36% sounds reasonable if you go by the logic of doubling the percentage. As in, 9% → 18% and 18% → 36%.
Regardless of which one you choose, it sounds pretty absurd. Initially, I was inclined to believe that it may just retain the 18% jump but then I checked the current prices of the Swift, which are already 20% higher than the launch prices. When I added 27% to the current gen Swift’s base model launch price, I got to Rs. 6.337 lakh. Considering that we still have almost an entire year before the 2024 Swift’s launch, we should expect a 5.5% hike just to keep up with the inflation.
Since the 27% jump sounds like the most plausible scenario, we're going with it and assuming a starting price of Rs. 6.35 lakh for the 2024 Swift.
Maruti Swift 2024 Expected Price Range
Once we have a baseline or starting price, it’s fairly easy to estimate the prices of the higher variants using the current variants as a benchmark. Naturally, as we move up the variant lineup, we’ll also have to add higher markup in terms of absolute price to adjust for inflation.
Thus, we end up with a price range of Rs. 6.35 lakh to Rs. 11.30 lakh for the 2024 Swift. The 1.2L normal petrol manual range could cost between Rs. 6.35 lakh and Rs. 8.80 lakh. The AMT automatic variants could carry a Rs. 60,000 premium and cost between Rs. 7.95 lakh and Rs. 9.40 lakh (ex-showroom). Currently, the price premium for the AMT is Rs. 55,000. But we’re expecting a hike in this premium in the 4 quarters that remain between now and the launch of the new Swift. Similarly, we expect the premium for CNG to go up from Rs. 90,000 to Rs. 95,000. That would make the VXI and ZXI CNG models cost Rs. 8.30 lakh and Rs. 8.95 lakh, respectively.
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Since we’re also expecting to see the 1.0L turbo petrol engine in the Swift 2024, we’ll use the Fronx as the baseline. With the Fronx, we’ve seen a Rs. 1.0 lakh premium for the turbo petrol engine over the 1.2L normal petrol. So, if we get a turbo petrol engine in the Swift’s top 2 trims, they should end up costing Rs. 9.0 lakh and Rs. 9.80 lakh. A sub-Rs. 10.0 lakh price for a fully-loaded variant of a Maruti car with a turbo petrol engine will make it exciting for several buyers.
On top of that, the premium for a 6-speed torque converter automatic in the 2 Swift turbo petrol variants brings us to an estimated ex-showroom price of Rs. 10.50 lakh and Rs. 11.30 lakh for the ZXI and ZXI Plus turbo automatic, respectively.
Image Source: Motor1.com
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