Increase in car prices is announced by the leading auto manufacturer Maruti Suzuki India Ltd. The automaker said that post July, the prices shall be increased.
The company, in its regulatory filing said that it is imperative to pass on the additional cost to customers in the lieu of rising input costs.
The company stated in its regulatory filing today that due to the increase in various input costs, over the past year the cost of the company’s vehicles continues to be adversely impacted. Hence, it is important to pass on the above additional cost to customers through a price rise.
Price Hike Shall Vary For Different Models
Without specifying the quantum of price hike, the company indicated that the price hike shall vary for different models.
The carmaker said that increase shall vary for different models and also that the price rise was planned in quarter 2 itself.
In the month of April, due to a rise in various input costs the auto manufacturer had raised prices for different car models. In the month of January, the carmaker had cited a rise in input costs and had increased prices for some car models. Depending on the model and ranges, prices were hiked by up to ?34,000.
Plans to Ramp Up The Production
Maruti Suzuki India Ltd sells a tapestry of models ranging from ?2.99 lakh and ?12.39 (ex-showroom prices Delhi) lakh with models from entry-level hatchback Alto to S-CROSS.
The automaker has also initiated steps to ramp up production to “normal levels” to clear the backlog in the light of easing restrictions of covid 19 across various states.
Also Auto firms whose shutters were close temporarily due to lockdowns and curfews, are expecting business activity to pick up going ahead with the opening of dealerships across state.
A spokesman for the country’s largest automotive company, Maruti Suzuki India, noted that operations at its facilities had resumed with constant monitoring and safety procedures.
“We are doing the product with caution. In the meantime, we are continuing to vaccinate all employees and families first. More than 36 000 workers have received their first shotgun,” said the traffic officer, PTI reported.
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