Maruti Suzuki in a regulatory filing has announced that the carmaker will hike prices of select models and the price revision is effective from 6 September, 2021 and will be levied on the ex-showroom price of the models. The model-wise new prices will be disclosed by the company soon.
Last month, Maruti Suzuki reported that it would raise the prices of its models owing to an increase in input and manufacturing cost of vehicles. The weighted average price increase in Ex Showroom Prices (Delhi) across select models is 1.9%
“In continuation to our earlier communication on 30th August 2021, please note that with effect from 06th September 2021. The Company announced a price change for select models owing to increase in various input costs,” the company said in a regulatory filing.
Maruti Suzuki has increased the car prices for the third time in 2021
This is the third time the car manufacturer has hiked the costs of vehicles in 2021; the most recent one being in the month of April 2021, details of which can be read here.
In July 2021, only the ex-showroom prices of the Swift hatchback and CNG models rose by up to Rs 15,000 and you can know more about it here.
Last week, the carmaker voluntarily recalled over 1.81 lakh units of select petrol models of the Ciaz, Ertiga, XL6, S-Cross, and the Vitara Brezza manufactured from 4 May, 2018 to 27 October, 2020. To know more about it, click here.
Maruti Suzuki also reported an 8.7 per cent drop in sales last month with 1,03,187 passenger vehicles retailed in the domestic market. On the flip side, the Maruti Suzuki Vitara Brezza emerged as the top-selling compact SUV in August with 12,906 units sold in the previous month.
At present the company sells a range of models from entry-level hatchback Alto to S-CROSS, priced between ₹2.99 lakh and ₹12.39 (ex-showroom prices Delhi) lakh, respectively.
MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava had said there was no other option left for the company, but to increase prices to offset the impact of high commodity costs.
He had said that steel prices have gone up from ₹38 per kg last year to ₹65 per kg in May-June this year.