New Delhi | Jagran Auto Desk: Maruti Suzuki, India’s largest automobile maker announced a hike in car prices on Saturday. Maruti Suzuki India said that it has increased prices of its car models by up to 4.3 per cent to deal with the rise in input costs among other factors. Maruti Suzuki India has hiked prices across its models between 0.1 per cent to 4.3 per cent owing to increase in various input costs.
"The weighted average price increase in ex-showroom Prices (Delhi) across models is 1.7 per cent. The new prices are effective from today," Maruti Suzuki India said in a regulatory filing.
“In continuation to our earlier communication dated 2nd December 2021, the Company today announced price change across models owing to increase in various input costs,” it said.
MSI sells a range of cars from Alto to S-Cross priced between ₹3.15 lakh and ₹12.56 lakh, respectively.
Earlier, Maruti Suzuki India has hiked vehicle prices three times last year — by 1.4 per cent in January, 1.6 per cent in April and 1.9 per cent in September, taking the annual hike of car prices to 4.9 per cent.
The company had cited the increase in cost of essential commodities like steel, aluminum, copper, plastic and precious metals over the last one year as the reason behind hiking car prices last year.
"Over the past year, the cost of company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," the company had said in a regulatory filing in December last year.
For the month of December 2021, Maruti Suzuki India had reported a four per cent drop in the total wholesales to 1,53,149 units in December 2021. The company had sold 1,60,226 units in December 2020.
Posted By: Mukul Sharma