New Delhi: The automobile major, Maruti Suzuki India Limited, on Monday hiked price for Swift and all CNG variants owing to increase in various input costs, in effect from today. The increase in ex-showroom prices (Delhi) is up to ₹15,000 on the above models.
”With reference to our earlier communication dated 21st June, 2021, Maruti Suzuki India Limited today announced a price change for Swift and all CNG variants owing to increase in various input costs. Increase in Ex Showroom Prices (Delhi) is up to 15,000 INR on the above models. The new prices are effective from today i.e. 12th July, 2021,” Maruti said in an exchange filing.
The company said that the price increase in other models is planned shortly and shall be intimated accordingly.
Shares of Maruti Suzuki surged over 1% higher in Monday’s opening deals to ₹7,500 per share on the BSE.
The company in June had said that it will increase the prices of its cars from July in order to pass on some impact of additional cost to customers. “This is to inform you that over the past year the cost of the company’s vehicles continues to be adversely impacted due to an increase in various input costs. Hence, it has become imperative for the Company to pass on some impact of the above additional cost to customers through a price rise,” Maruti Suzuki said in a filing on June 21.
“The price rise has been planned in quarter 2 and the increase shall vary for different models,” the carmaker stated.
Earlier, the auto manufacturer had raised prices for different car models in April due to a rise in various input costs. In January, the carmaker had cited a rise in input costs and had increased prices for some car models. The prices were hiked by up to ₹34,000 depending on the model and ranges.