Maruti Suzuki hiked prices due to increase in input costs
The country's biggest carmaker Maruti Suzuki has hiked prices on selected models from today, April 16, due to an increase in various input costs. According to a regulatory filing by the company to the BSE, the weighted average price increase in ex-showroom prices (Delhi) across models is 1.6 per cent. This is the second price hike on cars by the company this month, and the third hike since February. The new prices are effective starting from Friday, April 16. (Also Read: Maruti Suzuki Sales Drop 6.7% In 2020-21, 1.67 Lakh Units Sold In March )
Automakers across the country have increased prices this year due to a rise in input costs. Meanwhile, on April 1, Maruti Suzuki reported its monthly auto sales. The carmaker reported a total sales of 1.67 lakh units in March 2021, up almost 99 per cent, compared to 83,792 units in the corresponding month last year.
In a statement, Maruti Suzuki said that the domestic sales in the financial year 2019-20 declined 18 per cent and also, sales in fiscal 2020-21 were affected due to the COVID-19 crisis. The total count of domestic sales, including the passenger vehicle sales and light commercial vehicles stood at 149,518 units last month, compared to 76,976 units in the year-ago period.
Maruti Suzuki's total sales, including domestic and export, dropped 6.7 per cent in the financial year 2020-21, compared to the earlier fiscal of 2019-20.
Maruti Suzuki was last trading 0.28 per cent higher at Rs 6,670.40 on the BSE. On Friday, Maruti Suzuki opened on the BSE at Rs 6,675, touching an intra day high of Rs 6,782 and an intra day low of Rs 6,611, in the trading session so far.
