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Maruti Suzuki as intimidated earlier, has increased the prices of Swift and all its CNG vehicles by ₹15,000 (ex-showroom, Delhi), owing to ‘increase in various input costs’.
“With reference to our earlier communication dated June 21, Maruti Suzuki India Limited announced a price change for Swift and all CNG variants owing to increase in various input costs,” the company said in a filing to stock exchanges.
The new prices are effective from July 12, it said adding, “The price increase in other models is planned shortly and shall be intimated accordingly.”
Other players too hike prices
Recently, other companies like MG Motor, Honda Cars India and Tata Motors had also announced price hikes effective this quarter.
For instance, MG Motor India Managing Director Rajeev Chaba had told this newspaper that the company intends to increase the prices by 2-3 per cent within this quarter because of the rise in input costs.
Tata Motors also had said in a statement that it intends to shortly mark an appropriate increase in prices of its ‘New Forever’ range of cars and sports utility vehicles.
“The steep climb in overall input costs, especially due to continuing rise in costs of essential raw material including steel and precious metals, necessitates a transfer of at least some part of this increase to end customers,” it had said.
A formal announcement about the quantum of price increase is likely to be made within the forthcoming days/weeks, it added.
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