India's largest automaker Maruti Suzuki India (MSI) will hike car prices due to rise in input costs in the July-September quarter of the current fiscal. The hike will vary for different models. The automaker, however, has not revealed anything about the quantum of the proposed hike.
"Over the past year, the cost of the company's vehicles continue to be adversely impacted due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price rise," MSI said in a BSE filing.
This is not the first time that Maruti Suzuki has raised the prices of its car models. On April 16, the carmaker had announced the increase in weighted average price in ex-showroom prices (Delhi) of 1.6 per cent across models.
The company had hiked the prices of select models by up to Rs 34,000, citing a rise in input costs in January 2021 as well.
The carmaker sells 14 models ranging from entry-level hatchback Alto to S-CROSS priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom prices Delhi) respectively. Out of these, 5 models are sold via Maruti Suzuki Nexa showrooms.
Meanwhile, Maruti Suzuki India resumed operations at its plants with due caution and revised safety protocols. "We are ramping up production cautiously. Meanwhile, we continue to vaccinate all employees and families on priority. Over 36,000 employees have already received the first shot," a spokesperson of the country's largest automaker said.
Edited by Mehak Agarwal; with PTI inputs
Also read: Maruti Suzuki's sales crash 71% m-o-m in May
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