Maruti Suzuki India will increase prices of its vehicles in the second quarter of FY2022. The country's largest carmaker officially announced the same through a regulatory filing with the Bombay Stock Exchange (BSE). However, the company is yet to disclose the quantum of the hike. The Indian carmaker has cited an increase in input cost as the primary reason for the price hike and has decided to pass on some impact of the additional cost to the customers. The amount will vary for different models.
Also Read: Maruti Suzuki Says Retails Took A Big Hit Due To The Second Wave Of COVID-19
Maruti Suzuki has said that the price hike will vary from model to model.
In a regulatory filing at the Bombay Stock Exchange (BSE), Maruti Suzuki said, "Over the past year the cost of the Company's vehicles continue to be adversely impacted 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 rise."
The carmaker further added, "The price rise has been planned in quarter 2 and the increase shall vary for different models."
This will be the third price hike from the Indo-Japanese carmaker this year, which will be announced in Q2, FY 2022. Earlier in January 2021, the company had increased prices for select models by up to Rs. 34,000, sighting the same reason for increasing input costs. In April 2021, the carmaker had cited a rise in input costs to hike prices for select models.
Maruti Suzuki says price rise has been planned in Q2, FY 2022
Also Read: Maruti Suzuki Announces Price Cut On Eeco Ambulance As Government Reduces GST
Right now, Maruti Suzuki India has 15 models in its combined line-up from Arena and Nexa brands. While its most affordable model, the Alto is priced between Rs. 3 lakh to Rs. 4.60 lakh, its flagship model, the S-Cross is priced from Rs. 8.39 lakh, going up to Rs. 12.39 lakh (all prices ex-showroom, Delhi).
