Maruti Suzuki increases Car price 4th time due to rising cost of input in less than 14 months

India's largest automobile maker, Maruti Suzuki has made announcement about the price hike of its cars two days back. The company stated that, it has hiked the prices of its car models nearing to 4.3% to deal the rising cost of the input as well as other factors. The company has hiked the prices across its models between 01% to 4.3% owing to increase in various input costs.

The weighted average price increase in ex-showroom prices (delhi) across models is 1.7%. the new prices are very effective, Maruti Suzuki India has stated in its regulatory filing.

In continuation to our earlier communication, which has been dated on 2nd December 2021, the company has made an announcement about the price change across the varied models owning to increase in rising input cost.

MSI sells a wide range of cars from Alto to S Cross priced between Rs3.15 lakh and 12.56 lakh respectively.

Previously, the Maruti Suzuki has increased the vehicle prices 3 times last year, by 1.4% in the month of January. 16.6% in the month of April and 1.9% in the month of September and taking the annual hike of car prices to 4.9%.

The Company has cited the rise in the cost of essential commodities such as steel, aluminum, copper, plastic and precious metal over the last one year as the reason behind the hiking car prices previous year.

Over the past year, the company's vehicle cost continues to be adversely impacted because of rise in varied input costs. Therefore, it becomes all the more imperative for the company to pass on some impact of the above additional cost to the customer by rising the price. The company has stated in the regulatory filing in the month of December previous year.

For the month of December 2021, the Maruti Suzuki India has reported about 4% drop with regards to total wholesales to 153,149 units in the month of December 2021. The company has sold about 160,226 units in the month of December 2020.