Maruti Suzuki announces another price hike to offset rising input cost
Maruti Suzuki is set to increase its car prices from September amid rising inputs costs. The automaker had also announced a price rise across variants in January and April earlier this year.
In a regulatory filing, the company said, “…. 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, it added.
“The price rise has been planned across models in September 2021,” Maruti Suzuki India said.
At present the company sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs 2.99 lakh and Rs 12.39 (ex-showroom prices Delhi) lakh, respectively.
On January 18, the automaker had hiked prices of some models by up to Rs 34,000, while on April 16, it announced a 1.6 per cent weighted average increase in ex-showroom prices (Delhi) across models.
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The shares of Maruti jumped over 2.5 per cent to Rs 6775 per share on the BSE intraday trade as compared to around a 1 per cent rise in the S&P BSE Sensex on Monday. The stock had hit Rs 8400 per share as 52-week high on January 13, 2021. Maruti Suzuki sells a range of models from entry-level hatchback Alto to the S-Cross sedan, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom Delhi).
(with agency inputs)