After Spike In Sales, Maruti Will Increase Price Of The Top Models: 2nd Price-Hike In 60 Days!
In a shocking development, India’s biggest car maker: Maruti Suzuki has announced that they will increase the price of their cars, yet again.
This will be their 2nd increase in car price in 60 days, and this is actually quite surprising.
Although the sales of their cars have increased, the overall automobile sector is down, and such an increase the price of their cars can adversely impact their overall growth.
What is the reason that forced Maruti to increase the cost of their cars?
Keep reading to find out more!
Maruti Increases The Price Of Cars: But Why?
Via a regulatory filing done on March 22, Maruti Suzuki has informed that effective April 1st, all cars being sold by them in India will experience a price hike.
In the regulatory filing, Maruti said, “Over the past year the cost of the company’s vehicles has been adversely impacted due to 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 increase in April, 2021,”
Hence, the rising cost of raw materials has been presented as the primary reason why the cost of cars are being hiked.
The exact details as to how much will be the increase hasn’t been disclosed yet.
Maruti’s 2nd Increase In Price In 2 Months
Last time Maruti increased the price of cars was in January 2021, just two months back.
At that time, prices were increased as high as Rs 34,000 for some models, ex-showroom Delhi.
While their best selling car: Alto’s price was hiked by Rs 9000, the price of Baleno was increased by Rs 19,400.
Wagon R, Breeza and Celerio price was also raised by upto Rs 18,000.
Note here, that the February sales of their cars have increased by 11.8%, compared to previous month.
It would be interesting to observe how this recent price hike by Maruti will impact their overall sales volume.
We will keep you updated, as more details come in.