Maruti Suzuki Hikes Vehicle Prices By Up To 1.9% To Offset Impact Of Rising Input Costs

MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022, owing to constant increase in input costs

Maruti Suzuki said with prices of various essential commodities like steel, copper, aluminium and precious metals going up, automakers have been hiking prices on a regular basis to offset the impact. Image: Getty

New Delhi: The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire model range, between 0.9 per cent to 1.9 per cent, with immediate effect.

The company, which currently sells a range of vehicles from Alto to S-Cross, said it has taken the decision to hike prices due to an increase in input costs.

The weighted average price rise, with effect from April 18, in ex-showroom prices (New Delhi) across models is 1.3 per cent, it added.

MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022, owing to constant increase in input costs.

Over the past year, the cost of the company's vehicles continues to be adversely impacted due to increase in various input costs, the auto major had stated in regulatory filing earlier this month.

With prices of various essential commodities like steel, copper, aluminium and precious metals going up, automakers have been hiking prices on a regular basis to offset the impact, said the company.

Last week Mahindra & Mahindra hiked vehicle prices by 2.5 per cent, entailing an increase of up to Rs 63,000.

Similarly, Toyota Kirloskar Motor has increased prices of its entire model range by up to 4 per cent from April 1.

Luxury carmakers Audi, Mercedes-Benz and BMW have also announced price hikes recently.

Meanwhile, Maruti Suzuki India, is leading the passenger vehicle segment, with dispatches of over 2.3 lakh units, according to Siam data.

Maruti Suzuki India exported 2,35,670 passenger vehicle last financial year, an over twofold increase, as compared to 94,938 units in the FY20-21. The top export markets for Maruti include Latin America, ASEAN, Africa, the Middle East, and neighbouring regions, while its top five export models comprise the Baleno, Dzire, Swift, S-Presso, and Brezza.