Maruti Suzuki hikes vehicle prices by up to 1.9 pc
PTI, Sep 6, 2021, 10:44 AM IST
The country’s largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 percent with immediate effect. In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 percent, it added.
This is MSI’s third price hike this year.
The auto major has already raised prices in January and April this year, with an overall hike of around 3.5 percent.
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.
The carmaker had last month said that a price hike was necessary, as it looks to protect its profitability amid a steep rise in commodity prices.
MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava had said there was no other option left for the company, but to increase prices to offset the impact of high commodity costs. He had said that steel prices have gone up from Rs 38 per kg last year to Rs 65 per kg in May-June this year.
Similarly, copper prices have doubled from USD 5,200 per tonne to USD 10,000 per tonne.
In the case of precious metals, the overall demand has gone up in various global markets and India due to the transition to stricter emission norms.
Srivastava had said that the prices of precious metals like rhodium have increased from Rs 18,000 a gram in May 2020 to almost Rs 64,300 a gram in July.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Passenger vehicle wholesales up marginally at 3,93,238 units in Oct: SIAM
HMSI recalls GL1800 Gold Wing units to fix faulty component
Hero MotoCorp looks to scale up EV biz, lines up new models
Royal Enfield forays into electric bike segment; unveils first model under Flying Flea brand
Maruti Suzuki looks to cash in on ‘few lakh marriages’ in Nov to carry festive sales momentum
MUST WATCH
Latest Additions
BJP stages protest against Congress govt in Karnataka over Waqf properties row
Loyalty Remembered: Mangaluru Airport’s K9 hero Jack passes away
Waqf issue: BJP stages Namma Bhoomi Namma Hakku protest in Bengaluru
Bomb disposal squad tackles ‘security incident’ at UK’s Gatwick Airport
Baba Siddique murder: Man held from Akola, 26th arrest in case
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.