India’s largest car manufacturer Maruti Suzuki announces price hike from April 2021
Indian auto market leader Maruti Suzuki India Limited announced a price hike effective from April 2021 for all its models. Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, states that over the years the manufacturing cost of the vehicles has been impacted adversely due to an increase in input costs. The automobile manufacturer declared that the price increase shall vary for different models.
In an exchange filing, Maruti Suzuki said, “Over the past year the cost of company’s vehicles has been impacted adversely due to increase in various input costs. Hence, it has become imperative for the company to pass on some impact of the above additional cost to customers through a price increase in April 2021.”
Recently, Maruti Suzuki Driving School trains over 1.5 million applicants, details of which can be read here.
Currently, the portfolio of the brand consists of 14 cars ranging from the Alto (Rs 2.99 lakh, ex-showroom) to XL6 (Rs 9.84 lakh, ex-showroom). The company, however, didn’t share the exact details of the price rise it intends to take from next month.
Maruti Suzuki had increased the prices for its cars in January 2021 also.
This is the second price escalation by the brand in the year 2021. Earlier in January 2021, Maruti Suzuki had increased the prices for its cars. On January 18 this year, the automaker had announced to hike prices of select models by up to Rs 34,000 due to a rise in input costs. In February 2021, the company saw an 11.8% growth in sales as compared to the same month the previous year. However, for the April-February period in 2021, Maruti’s total sales were 12.8% lower than the same duration last year.
In January, rival Mahindra and Mahindra increased prices of its personal and commercial vehicles by 1.9 per cent, while Tata Motors raised prices for its passenger vehicles by up to Rs.26,000.