New Delhi/IBNS: Maruti Suzuki Alto-K10 and S-Presso are getting cheaper as India's largest carmaker on Monday (Sept 2) announced to slash prices of select variants of these two entry level models amid rising inventory concerns in the automobile industry and drop in sales.

Effective from today (Sept 2), the price of Maruti Suzuki S-Presso LXI Petrol, originally priced at Rs 5.01 lakh (ex-showroom), has been reduced by Rs 2,000, while the price of the Alto K10 VXI Petrol has been reduced by Rs 6,500.

Maruti Suzuki's entry-level hatchback Alto K10 range is priced from Rs 3.99 lakh and Rs 5.96 lakh.

The carmaker reported a 3.9 percent drop in total vehicle sales for August this year (2024) with 181,782 units sold, down from 189,082 units in the same month last year (2023).

Maruti Suzuki's August 2024 sales comprised 145,570 units sold domestically and 26,003 units exported, according to reports.

The drop in overall sales is primarily due to a significant decline in the mini and compact segments, where sales fell to 68,699 units from 84,660 units in August last year.

Domestic passenger vehicle sales recorded a drop in August 2024, with Maruti Suzuki selling 143,075 units, down from 156,114 units in August last year.