New Delhi: The country’s largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased the prices of its entire model range by between 0.9 per cent and 1.9 per cent with immediate effect.
The company, which currently sells a range of vehicles from Alto to S-Cross, said it has decided to hike prices due to increase in cost.
The weighted average price increase in ex-showroom prices (New Delhi) of all models from April 18 is 1.3 per cent.
Due to the continuous increase in input cost, MSI has increased the prices of vehicles by about 8.8 per cent from January 2021 to March 2022.
In the past one year, the cost of vehicles of the company is being adversely affected due to increase in various input costs, the auto major said in a regulatory filing earlier this month.
With the increase in the prices of various essential commodities like steel, copper, aluminum and precious metals, automakers are increasing the prices on a regular basis, the company said.
Mahindra & Mahindra last week hiked the prices of vehicles by 2.5 per cent, adding up to Rs 63,000.
Similarly, Toyota Kirloskar Motor has increased the prices of its entire model range by up to 4 per cent with effect from April 1.
Luxury car makers Audi, Mercedes-Benz and BMW have also announced price hikes recently.
Meanwhile, Maruti Suzuki India is the leader in the passenger vehicle segment, with over 2.3 lakh units dispatched, as per SIAM data.
Maruti Suzuki India exported 2,35,670 passenger vehicles in the last financial year, which is more than two times as compared to 94,938 units in FY 20-21. The top export markets for Maruti include Latin America, ASEAN, Africa, the Middle East and the neighboring regions, while its top five export models include Baleno, DZire, Swift, S-Presso and Brezza.
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