India’s largest carmaker Maruti Suzuki said on Monday it has increased the prices of its entire model range by an average of 1.3 per cent due to a sharp increase in input costs. The increase in price varies depending on the model in the range of 0.9 per cent to 1.9 per cent.
The weighted average increase across models is 1.3 per cent – Ex Showroom Prices (Delhi), Maruti Suzuki said in a regulatory filing to the stock exchanges. The new prices came into effect from 18th April 2022.
Maruti Suzuki said it has decided to increase the prices across models owing to “increase in various input costs.” “Over the past year, the cost of Company’s vehicles continues to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the Company to pass on some impact of the above additional costs to customers through a price hike,” Maruti Suzuki had said in a statement released on 6th April giving advance intimation of its decision to hike prices.