New Delhi | Jagran Business Desk: Indian automobile manufacturer Maruti Suzuki is going to increase the prices across its model line-up in September 2021 as per the announcement made in the company's regulatory filing. The price hike comes mainly due to the increase in various input costs, the company said. While this price revision was already expected, the company did not reveal the quantum of the price hike.
"With reference to our earlier communications with respect to price increase, we wish to inform you that over the past year the cost of Company's vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative to pass on some impact of the additional cost to the customers through a price rise. The price rise has been planned across models in September 2021," Maruti Suzuki India said in its official statement.
Maruti Suzuki India had already increased the prices of the Swift hatchback and its entire CNG model line-up at the beginning of the ongoing quarter, in July 2021. The prices were hiked by up to Rs. 15,000, depending on model and variant and the company had announced that it will increase the price of other petrol models soon. It is unclear as of now, whether the company will revise the prices of the Swift and CNG models once again with the new announcement.
Earlier in June 2021, Maruti Suzuki India had announced that it will hike car prices in India in the second quarter (Q2) of Financial Year 2021-22 during a regulatory filing to the Bombay Stock Exchange (BSE). This is the third time that the Indo-Japanese carmaker will be increasing the price of its cars this year. On both previous occasions when the prices were hiked, the carmaker had cited the same reason- rise in input costs- for the price hike.
Posted By: Sugandha Jha