Maruti Suzuki hikes vehicle prices from today. Check details here
Premium- Maruti Suzuki said that the weighted average increase across models is 1.3% - Ex Showroom Prices (Delhi)
The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased the prices of its entire model range amid rise in input costs.
Over the past year, the cost of company's vehicles continued to be adversely impacted due to an increase in various input costs, the auto major said in a regulatory filing.
“The weighted average increase across models is 1.3% - Ex Showroom Prices (Delhi)," it said in a regulatory filing.
"Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," it added.
The company has planned to increase the prices in April and the hike will vary for different models.
MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to constant increase in input costs.
The company sells a range of models starting from Alto to S-Cross in the domestic market.
Another automaker, Mahindra & Mahindra on Thursday said it has increased prices of its entire model range by 2.5 per cent with immediate effect.
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This will result in an increase of ₹10,000 to ₹63,000 on the ex-showroom prices across the range, depending upon the model and the variant, the home-grown auto major said in a statement.
The price revision is the result of a continuous increase in prices of key commodities such as steel, aluminium, palladium, etc, it added.
"The company has taken necessary initiatives to partially offset the unprecedented hike in commodity prices to absorb the impact, passing a minimal percentage of cost increase to customers through a price revision," M&M noted.