Maruti Suzuki India Hikes Car Prices By 1.3% Across Its Model Line-Up

Maruti Suzuki India has announced that it will be increasing prices across its model line-up. According to a regulatory filing on the Bombay Stock Exchange (BSE), the average hike in ex-showroom, Delhi prices would be around 1.3 per cent, and the revised prices will come into effect from today, April 18, 2022, onwards. The company says that it is making an upward revision in prices, across all models, owing to an increase in various input costs. In fact, Maruti Suzuki India had announced its decision to increase vehicle prices, earlier this month, on April 6 itself.

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In the statement released by the carmaker on April 6, 2022, Maruti Suzuki India had said, "Over the past year, the cost of Company's vehicles continue 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 India had announced its decision to increase vehicle prices, earlier this month, on April 6 itself.

This is the second price hike announced by the Indo-Japanese carmaker in 2022. Earlier in January, Maruti Suzuki increased car prices in India by 1.7 per cent across its model line-up. Back then too the company had cited rising input costs of raw materials as the primary reason for the imminent price hike.

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Maruti Suzuki India is not the only automaker in the country to increase vehicle prices this year. Audi India, BMW Tata Motors and Toyota India increased vehicle prices on April 1, 2022. At the same time, Hero MotoCorp, and Mahindra & Mahindra hiked prices on April 5, and April 14, respectively. While the rise in input costs has certainly been a major reason for automakers to take this step, nonetheless, it has been a standard practice among automakers to increase vehicle prices both, at the start of a new calendar year and a new financial year.