This is the third price hike announced by the country’s largest carmaker this year.
Country’s largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased the prices of all its products except the Celerio by up to 1.9 per cent with immediate effect.
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In a regulatory filing, the company mentioned that it has decided to increase the prices due to increase in various input costs.
It added that the weighted average price increase is 1.9 per cent over the ex-showroom prices (New Delhi) across select models.
This is MSI’s third price hike this year.
The auto major has increased prices by around 3.5 per cent in January and April this year.
Currently, the company sells a range of models from the entry-level hatchback Alto to the S-CROSS, which are priced between ₹2.99 Lakh and ₹12.39 Lakh (ex-showroom Delhi) Lakh respectively.
The carmaker had last month said the price hike was necessary as it wanted to protect its profitability amid sharp rise in commodity prices.
‘no option’
MSI senior executive director (sales and marketing) Shashank Srivastava had said the company was left with no option but to hike prices to offset the impact of higher commodity costs.
He had said that steel prices have increased from ₹38 per kg last year to ₹65 per kg in May-June this year.
Similarly, copper prices have doubled to $10,000 a tonne from US$ 5,200 a tonne.
In the case of precious metals, the transition to stringent emission norms in various global markets and India has fueled overall demand.
Srivastava had said that the prices of precious metals like rhodium have increased from ₹18,000 per gram in May 2020 to around ₹64,300 per gram in July.
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