Maruti Suzuki to hike vehicle prices amid rising input costs
Recalling 19,731 units of Eeco to inspect and rectify incorrect marking of wheel rim size
New Delhi: India's largest carmaker Maruti Suzuki India (MSI) on Wednesday said it will increase prices of its entire model range this month amid rise in input costs.
Over the past year, the cost of company's vehicles continued to be adversely impacted due to increase in various input costs, the auto major said in a regulatory filing.
"Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike," it added. The company has planned to increase the prices in April and the hike will vary for different models. However, the company did not disclose the quantum of the proposed price hike. The automobile major has announced a voluntarily recall of 19,731 units of its 'Eeco' model. According to the company, the recall is being undertaken to inspect and rectify "incorrect marking of wheel rim size", if any, on the wheel in some of these vehicles.
"In a routine inspection, Maruti Suzuki found that in some units of EECO, manufactured between July 19, 2021 and October 5, 2021, the wheel rim size was incorrectly marked. This issue has no implication on performance, safety or environment," the company said.
Back to price hike, MSI has already hiked vehicle prices by around 8.8 per cent from January 2021 to March 2022 owing to constant increase in input costs. The company sells a range of models starting from Alto to S-Cross in the domestic market.