Maruti Suzuki hikes vehicle prices by up to 1.9 pc to offset impact of rising input costs

PTI, Apr 18, 2022, 2:13 PM IST

Image Credit: Bloomberg

New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased the prices of its entire model range, between 0.9 percent to 1.9 percent, with immediate effect.

The company, which currently sells a range of vehicles from Alto to S-Cross, said it has taken the decision to hike prices due to an increase in input costs.

The weighted average price rise, with effect from April 18, in ex-showroom prices (New Delhi) across models is 1.3 percent, it added.

MSI has already hiked vehicle prices by around 8.8 percent from January 2021 to March 2022, owing to a constant increase in input costs.

Over the past year, the cost of the company’s vehicles continues to be adversely impacted due to an increase in various input costs, the auto major had stated in a regulatory filing earlier this month.

With prices of various essential commodities like steel, copper, aluminium, and precious metals going up, automakers have been hiking prices on a regular basis to offset the impact.

Last week Mahindra & Mahindra hiked vehicle prices by 2.5 percent, entailing an increase of up to Rs 63,000.

Similarly, Toyota Kirloskar Motor has increased prices of its entire model range by up to 4 percent from April 1.

Luxury carmakers Audi, Mercedes-Benz, and BMW have also announced price hikes recently.