Business News:India’s largest automaker Maruti Suzuki India (MSI) on Friday said it has hiked prices for most of its cars by up to Rs.22,500 with immediate effect to somewhat compensate the impact of high input and raw materials costs.
Except for Celerio and Swift, all the other models of Maruti Suzuki will be subjected to a price increase exercise. “The company is increasing the price for select models owing to increase in various input costs,” the auto major said in a regulatory filing.
The weighted average price increase in ex-showroom prices (Delhi) across models is 1.6%, it added. The new prices are effective from Friday, Maruti Suzuki India said. The company sells various models ranging from Alto to S-Cross, for a price range between Rs.2.99 lakh and Rs.12.39 lakh (ex-showroom Delhi).
In March, the automaker company had said that for the past one year, the cost of the company’s vehicles has been affected badly due to an increase in input and raw materials costs. Back in January 18th of this year, Maruti Suzuki had already had announced its decision to hike prices of certains cars and its models by up to Rs.34,000 due to a rise in input costs.