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    Maruti Suzuki hikes prices of select models due to high input cost

    Maruti Suzuki hikes prices of select models due to high input cost

    Maruti Suzuki hikes prices of select models due to high input cost
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    By CNBCTV18.com  IST (Updated)

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    The country's largest passenger vehicle manufacturer Maruti Suzuki India on Friday announced an increase in the prices of its select models due to high input cost.

    The country's largest passenger vehicle manufacturer Maruti Suzuki India on Friday announced an increase in the prices of its select models due to high input cost.
    "This is to inform you that the Company is increasing the price for select models owing to increase in various input costs. The weighted average price increase in Ex-Showroom Prices (Delhi) across models is 1.6%," the company said in a regulatory filing.
    The new prices are effective from today i.e. April 16, 2021.
    On March 22, Maruti Suzuki announced that it would "substantially hike vehicle prices from April in order to offset an increase in raw material cost".
    Motown explores price hikes to tide over cost escalation
    A surge in global commodity prices, especially steel, increased the input costs of original equipment manufacturers (OEM). The COVID-19 pandemic-led supply shortages have also led to higher costs for automobile companies.
    A global shortage of semi-conductors has affected the entire automobile industry. Carmakers and two-wheeler manufacturers have written to the government expressing concerns about this recently.
    Speaking to CNBC-TV18, Vinod Dasari the CEO of Royal Enfield, expressed concern about this and said that he expects the shortage to ease out in the next 3-4 months.
    Additionally, there has also been a sharp rise in fuel and freight costs. The transportation costs have also increased with high diesel prices.
    At 1:15 pm, the share of Maruti Suzuki were trading 0.78 percent higher at Rs 6,704.10 apiece on the BSE.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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