New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) on Monday, April 18, said it has increased the prices of its entire model range amid rise in input costs.
In a notification to the exchanges released on Monday, Maruti said, “The weighted average increase across models is 1.3 per cent – Ex-Showroom Prices (Delhi). These new prices will come into effect from April 18, 2022.”
In an advance intimation, the automaker had informed the bourses regarding the price hike in April.
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.
“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.
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.
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.