After Mahindra and Mahindra, automobile giant Maruti Suzuki is all set to hike the prices of its car models due to the rise in input costs. The average increase across models is at 1.3% ex-showroom prices (Delhi) which will come into effect from April 18. The company announced this in the latest exchange filing.
The filing read, “Concerning our earlier communication dated April 6, 2022, the company today announced the change in prices across models owing to an 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.”
Maruti Suzuki had announced earlier this month that it will increase the prices of its entire range of vehicles since the automobile sector has been impacted by several input costs. They 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 for April 2022. The increase shall vary for various models.”
Maruti Suzuki has hiked vehicle prices by almost 9 per cent from January last year to March this next due to the rise in input costs.
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