Companies

Maruti Suzuki hikes prices by 1.9 per cent across models

Our Bureau New Delhi | Updated on September 06, 2021

This is the fourth price hike this calendar year

Country’s largest passenger vehicles maker Maruti Suzuki India (MSIL) on Monday said it is increasing the prices of its products by 1.9 per cent due to rise in input costs.

“In continuation to our earlier communication on August 30th, please note that with effect from September 6th, the company announced a price change for select models owing to increase in various input costs. The weighted average price increase in ex-showroom prices (Delhi) across select models is 1.9 per cent,” MSIL said in a filing to stock exchanges.

This is the fourth price hike this calendar year.

Earlier price hikes

The company, in January, increased prices by 1.6 per cent across all categories. Another price hike came in April to the tune of 1.9 per cent and then in July by 0.4 per cent only on CNG vehicles.

“Commodity prices are quite high since April 2020. For instance, prices of steel have gone up from ₹38,000 per tonne last year to ₹65,000 per tonne today. Similarly, prices of Copper have risen from $6,200 per tonne to $10,200 per tonne at present and Rhodium and palladium prices have also gone up multi-fold over the last one year,” Shashank Srivastava, Senior Executive Director (Marketing & Sales), MSIL told BusinessLine last week.

Domestic automobile manufacturers are facing a tough situation following the shortage of semiconductors, and are now more worried due to the lockdown in Malaysia, which is one of the largest chips suppliers.

Meanwhile, MSIL had said last week, it was proactively recalling 1,81,754 units of some petrol variants of Ciaz, Ertiga, Vitara Brezza, S-Cross and XL6, for potential defect in Motor Generator Unit, manufactured between May 4, 2018 and October 27, 2020.

Published on September 06, 2021

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