Maruti Suzuki India (MSI) on Monday said it will hike the prices of its cars in the second quarter of the current fiscal due to an increase in the input costs. The company has not revealed the extent of the proposed hike yet. The price rise has been planned in the second quarter (July-September period) of the current financial year and the increase shall vary for different models, the company has stated. This will be the fourth price hike for Maruti Suzuki cars in 2021 with the first being carried out in January and two in April.
“Over the past year, the cost of the company’s vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise,” Maruti Suzuki India said in a regulatory filing.
On 18 January this year, the automaker had announced a price hike of select models due to a rise in input costs. There was an increase of up to Rs 35,000 on few models. The least-priced model, the Maruti Suzuki Alto, had become dearer by Rs 5,000 to 14,000.
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On 16 April, Maruti Suzuki announced the weighted average price increase in ex-showroom prices (Delhi) across models of 1.6 percent. Prior to this, several car manufacturers had increased prices on 1 April, including Maruti Suzuki.
MSI sells a range of models from entry-level hatchback Alto to S-Cross, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom prices Delhi), respectively.
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