On Friday, India’s biggest carmaker Maruti Suzuki announced an increase in the prices of its select models in hopes to offset the impact of high input costs.
Contents
What Does Maruti Say?
Further, the new prices will be effective from April 16, 2021.
Although, the automaker is yet to announce the particular models’ for which the prices have been increased.
Talking on the subject, Maruti said in a regulatory filing, “This is to inform you that the Company is increasing the price for select models owing to increase in various input costs. The weighted average price increase in Ex-Showroom Prices (Delhi) across models is 1.6%. The new prices are effective from today i.e., 16th April 2021,”.
Why Would This Happen?
Prior to this, on March 22, Maruti Suzuki had announced that it would be increasing the prices across its model range from April to offset any increase in raw material costs.
The cost of the company’s vehicles has been impacted adversely due to an increase in various input costs in the past year.
While justifying the increase, the company said, “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,”.
How Much Change In Price?
Moreover, the price increase shall vary for different models.
The regulatory filing suggests that “The weighted average price increase in Ex-Showroom Prices (Delhi) across models is 1.6%,”.
Also, these new prices are effective from today i.e. 16th April 2021.
Not the First Time
Citing the rise in various input costs, automakers in India have been hiking prices this year.
Prior to this, the Maruti Suzuki had cited a rise in input costs and had increased prices for some car models in January.
As of March 2021, Maruti Suzuki India announced that its total production increased significantly to 1,72,433 units over the same month last year.
A year-ago period, the carmaker had produced a total of 92,540 units, as mentioned by Maruti Suzuki India (MSI).
While the passenger vehicle production stood at 1,25,724 units last month which is much higher compared to 69,854 units in March 2020.
Comments are closed, but trackbacks and pingbacks are open.