Maruti Suzuki to increase prices of its cars from July
In a regulatory filing with the Bombay Stock Exchange (BSE), Maruti Suzuki has announced that its vehicles will receive a price-hike in the second quarter of FY2022 i.e. from July onwards. An increase in input cost has been cited as the reason behind the move and the hike will vary from model to model. The quantum of the price-hike is yet to be revealed.
This will be the brand's third price-hike this year
The aforementioned price-hike will be the automaker's third one this year. To recall, in January 2021, the brand cited rising input costs to increase the prices of select models by up to Rs. 34,000. In April, the prices of some cars were increased once again.
'Raising prices has become imperative for the company'
"Over the past year the cost of the company's vehicles continues to be adversely impacted due to an increase in various input costs," Maruti Suzuki said in its filing. The automaker added that "it has become imperative for the company to pass on some impact of the above additional cost to customers through a price-rise." The price-hike has been planned for Q2.
'Production being ramped up with safety protocols in place'
Maruti Suzuki is also taking steps to safely ramp up production amid the ongoing pandemic. It has announced that operations have resumed at its factories with new safety protocols and due caution in place. "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," the company said.
Currently, 15 models are sold in India
Currently, Maruti Suzuki sells a total of 15 models across its Arena and NEXA brands in India. The most affordable model in its line-up, the Alto starts at Rs. 3 lakh and goes up to Rs. 4.60 lakh. Meanwhile, its flagship car, the S-Cross carries a starting price-tag of Rs. 8.39 lakh and goes up to Rs. 12.39 lakh (all prices, ex-showroom, Delhi).
