Maruti Suzuki hikes model prices by up to Rs 22,500 to offset rise in input costs

• Follow

New Delhi: Maruti Suzuki India (MSI) on April 16 said it has hiked prices of most of its models by up to Rs 22,500 with immediate effect owing to an increase in various input costs.

All the models of the company will be covered under the price increase exercise. The price of Celerio and Swift remain unchanged.

“The company is increasing the price for select models owing to increase in various input costs,” the auto major said in a regulatory filing. The weighted average price increase in ex-showroom prices (Delhi) across models is 1.6%, the country’s largest carmaker said in a statement.

The new prices are effective from April 16, the automaker said in a statement.

Maruti Suzuki India sells models ranging from Alto to S-Cross, priced between Rs 2.99 lakh and Rs 12.39 lakh (ex-showroom Delhi).

According to Banwari Lal Sharma, CEO of Carwale, “Demand started picking up and it hasn’t looked back since then, even now there is fantastic demand for Maruti cars with 40-50% enquiries coming in on our platform. Maruti seems to have identified this demand and due to restrained production supported by a shortage of component supply, they have increased the prices. This should not effect the supply as the 2nd wave has pushed the demand further. The company is not worried about sales pressure as they are seeing enough demand and don’t have massive supply due to the covid-19 situation. Also, they have taken the risk to cover up the losses made last year due to Pandemic.”