Maruti Suzuki Hikes Car Prices On Select Models By 1.9%, Third Rise In 2021
Once again, Maruti Suzuki has hiked its cars prices. This is the third time this year when company has hiked the price of its cars. Due to increase input cost, price is being increased.
Maruti Suzuki India, the country's largest carmaker, has hiked the prices on its select passenger vehicles by up to 1.9 percent. The company said it is decided to hike the prices of the cars because of an increase in input costs. The increased pricing of select models will be effective from September 6, 2021.
Price Hike
Maruti Suzuki said ex-showroom prices of passenger vehicles (New Delhi) have increased by an average of 1.9 percent. This is the third time this year when this company has hiked the prices of its cars. Maruti had earlier increased prices by about 3.5 percent overall in January and April.
'No Other Option Left'
The company is currently selling several models ranging from entry-level hatchback Alto to S-Cross, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom price in Delhi) respectively. The carmaker said last month that it is necessary to hike prices as it has to get its profits amid rising goods prices.
'Increased Goods Cost'
Shashank Srivastava, Senior Executive Director (Sales and Marketing) of Maruti Suzuki India said that the company had no choice but to hike prices to offset the impact of high costs of goods.
He said steel prices increased to Rs 65 per kg in May-June this year from Rs 38 per kg for the same period last year. During this period, Copper prices also doubled from $5,200 a tonne to $10,000 a tonne.
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