Maruti Suzuki Price Raised for Select Models Starting from Today
For the year, 2021, Maruti Recorded top Position Among the Indian Carmakers
Leading auto manufacturer of the nation, Maruti Suzuki India Ltd, has stated that, it has increased the prices of its cars; it would come into effect starting from today. In a regulatory filing on Monday, Maruti has stated that, the prices have been increased to pass on some impact due to additional input cost to the customers.
In continuation to our previous communication, on 30th August 2021, please note, with effect from 6th September, 2021.The company has made big announcement regarding price change for few select models, there would be increase in varied input costs, the company has stated in the regulatory filing.
The increase in car prices would be around 2% across the nation. The weighted average price increase in Ex-showroom prices (Delhi) across the select models is around 1.9%, it stated.
The auto major has already raised prices in the month of January as well as April this year, with an overall hike of nearing to 3.5%.
At present the company sells a range of models from entry-level hatchback Alto to S-CROSS, priced between Rs. 2.99 lakh and Rs.12.39 (ex-showroom Prices Delhi). Lakh, respectively.
MSI Senior Exective Director (Sales and Marketing) Shashank Srivastava has stated that, there was no other option left for the company, but to increase prices to offset the impact of high commodity costs.
He stated that, the steel prices have been going up from RS. 38 per kg last year to Rs. 65 per kg in the month of May-June this year.
Similarly, the copper prices have also doubled from USD 5,200 per tonne to USD 10,000 per tonne.
With regards to precious metals, we find the overall demand has been gone up in varied global markets and India due to transition to stricter emission norm.
Srivastava has stated that, the prices of the precious metals such as rhodium have increased from Rs 18,000 a gram in the month of May, 2020 to almost Rs.64,300 a gram in the month of July.
Previous week, the Maruti Suzuki has stated, it has been recalling around 1,81,754 units of petrol trims of varied models, which include Ciaz, Vitara Brezza and XL6, to replace the faulty motor generator unit.
This has been the company's largest vehicle recall till date.
As a responsible corporate, one should keep in mind, the customer safety, the company has also announced to proactively undertake a recall of few petrol variants such as Ciaz, Ertiga, Vitara Brezza, S-cross and XL6, MSI sated in its regulatory filing.