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Maruti Suzuki India to hike prices of entire model range from April 2022

By Ruchi Upadhyay 
Updated Date

NEW DELHI: The country’s largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month amid rise in input costs. Over the past year, the cost of company’s vehicles continued to be adversely impacted due to increase in various input costs, the auto major said in a regulatory filing.

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“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.

“Over the past year, the cost of company’s vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike”, Maruti Suzuki said in a filing on the Bombay Stock Exchange (BSE).

The statement added the company has planned this price rise in April, 2022. The increase shall vary for different models.

Maruti Suzuki has raised vehicles prices four times in the past one year due to the unprecedented rise in commodity costs. The total hike on its vehicles have been around 8.8% in this period.

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Maruti Suzuki sells a range of vehicles from small car Alto to crossover utility vehicle S-Cross.

Maruti Suzuki is currently facing a shortage of electronic components that continue to affect vehicle production. The company’s cumulative sales for the entire Financial Year 2021-22 stood at 16,52,653 units, a healthy 13.4 per cent growth over FY 2020-21, during which the company sold 14,57,861 vehicles. In March 2022, Maruti Suzuki’s total sales stood at 170,395 units, a growth of over 2 per cent compared to 167,014 vehicles sold during the same month in 2021.

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