Maruti Suzuki to raise prices of vehicles from Apr 18; details here
Revised prices will come into effect from April 18 (Monday), as per the latest exchange filing.
- Apr 18, 2022,
- Updated Apr 18, 2022 10:14 AM IST
Automobile major Maruti Suzuki has said that it will hike prices of cars across models due to the rise in input costs. It added that the weighted average increase across models is at 1.3 per cent- ex-showroom prices (Delhi). Revised prices will come into effect from April 18 (Monday), as per the latest exchange filing.
The filing read, “With reference to our earlier communication dated April 6, 2022, the company today announced change in prices across models owing to increase in input costs. The weighted average increase across models is 1.3 per cent- ex showroom prices (Delhi). These new prices will come into effect from April 18, 2022.”
The company had announced earlier this month that it will increase prices of its entire range of vehicles since the sector continues to be impacted by rise in several input costs. The company stated, “Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike. We have planned this price rise in April 2022. The increase shall vary for various models.”
The automobile bellwether has hiked vehicle prices by almost 9 per cent from January last year to March this next due to the rise in input costs.
Maruti Suzuki executive director Shashank Srivastava told Business Today TV in an interaction this month, “75 to 78 per cent of the total cost structure of an auto OEM (original equipment manufacturer) is material cost. Commodity prices have been stubbornly high for the last one-and-a-half years and that is the reason we have undertaken four price hikes, but that is not sufficient to cover increased commodity prices.”
Automobile major Maruti Suzuki has said that it will hike prices of cars across models due to the rise in input costs. It added that the weighted average increase across models is at 1.3 per cent- ex-showroom prices (Delhi). Revised prices will come into effect from April 18 (Monday), as per the latest exchange filing.
The filing read, “With reference to our earlier communication dated April 6, 2022, the company today announced change in prices across models owing to increase in input costs. The weighted average increase across models is 1.3 per cent- ex showroom prices (Delhi). These new prices will come into effect from April 18, 2022.”
The company had announced earlier this month that it will increase prices of its entire range of vehicles since the sector continues to be impacted by rise in several input costs. The company stated, “Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike. We have planned this price rise in April 2022. The increase shall vary for various models.”
The automobile bellwether has hiked vehicle prices by almost 9 per cent from January last year to March this next due to the rise in input costs.
Maruti Suzuki executive director Shashank Srivastava told Business Today TV in an interaction this month, “75 to 78 per cent of the total cost structure of an auto OEM (original equipment manufacturer) is material cost. Commodity prices have been stubbornly high for the last one-and-a-half years and that is the reason we have undertaken four price hikes, but that is not sufficient to cover increased commodity prices.”