Maruti Suzuki hikes prices for 3rd time this year
Says forced to increase vehicle prices up by 1.9% on select models as prices steel, copper, rhodium soar upto 100%
New Delhi: India's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect.
In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 per cent, it added. This is MSI's third price hike this year. The auto major has already raised prices in January and April this year, with an overall hike of around 3.5 per cent.
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. The carmaker had last month said that a price hike was necessary, as it looks to protect its profitability amid a steep rise in commodity prices.