Maruti Suzuki Hikes Prices By 1.7% Across Models

Last month, Maruti Suzuki India announced increasing ex-showroom prices of its cars from January 2022. However, the Indo-Japanese carmaker didn't disclose the quantum of the price hike then. In a regulatory filing made at the Bombay Stock Exchange (BSE), the country' largest carmaker by volume has informed that it has hiked the car prices by 1.7 per cent across models effective January 15, 2022. The company has cited rising input costs as the primary reason for the imminent price hike.

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Maruti has cited rising input costs as the primary reason for the hike.

"In continuation to our earlier communication dated December 2, 2021, the company today announced price change across models owing to increase in various input costs. The weighted average price increase in ex-showroom Prices (Delhi) across Models is 1.7 per cent. The new prices are effective from today i.e. 15th January 2022," Maruti Suzuki said in a regulatory filing at the BSE.

The various rising inputs costs continue to cost the carmaker's vehicles and it has decided to pass on some impact of the above additional costs to customers through a price hike. It is the second price hike announced by the carmaker in the last six months. Do note, Maruti increased its car prices by 1.9 per cent for select models in September 2021, citing a rise in input cost as the reason.

Also Read: Maruti Suzuki Produced Over 1.52 Lakh Cars In December 2021

In September 2021, Maruti increased the prices of select car models by up to 1.9 per cent

Maruti Suzuki is currently facing a shortage of electronic components that continue to affect vehicle production, as the brand is operating at 85 per cent capacity. Last month, the automaker sold 153,149 units in India to post a 4 per cent decline year-on-year compared to 160,226 units sold in December 2020. Maruti Suzuki has big plans for this year that includes the new Vitara Brezza, Baleno, refreshed XL6, new Alto, and most likely the Jimny.