Leading auto manufacturer Maruti Suzuki India Ltd has said that the increased prices of its cars will come into effect from today. In a regulatory filing on Monday, Maruti said that the prices are being increased to pass on some impact of additional input costs to customers.
“In continuation to our earlier communication on 30th August 2021, please note that with effect from 06th September 2021. The Company announced a price change for select models owing to increase in various input costs,” the company said in a regulatory filing.
The increase in car prices will be around 2% across the country. “The weighted average price increase in Ex-Showroom Prices (Delhi) across select models is 1.9%,” it said.
The auto major has already raised prices in January and April this year, with an overall hike of around 3.5 per cent.
At present the company sells a range of models from entry-level hatchback Alto to S-CROSS, priced between ₹2.99 lakh and ₹12.39 (ex-showroom prices Delhi) lakh, respectively.
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 ₹38 per kg last year to ₹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 ₹18,000 a gram in May 2020 to almost ₹64,300 a gram in July.
Last week, Maruti Suzuki India said it is recalling 1,81,754 units of petrol trims of various models, including Ciaz, Vitara Brezza and XL6, to replace faulty motor generator unit.
This is the company’s largest vehicle recall till date.
As a responsible corporate, keeping in mind customer safety, the company has announced to proactively undertake a recall of some petrol variants of Ciaz, Ertiga, Vitara Brezza, S-Cross and XL6, MSI said in a regulatory filing.