India’s largest carmaker Maruti Suzuki on Monday, in a regulatory filing, said it will increase the prices of its vehicles from today. Earlier, on August 30, the company had informed that it will increase the prices from September but had not disclosed the effective date and quantum of the price increase.
“In continuation to our earlier communication on 30 August, please note that with effect from 6 September 2021, the Company announced a price change for select models owing to increase in various input costs,” said an official release from Maruti.
The car manufacturer has announced 1.9 percent rise in ex-showroom price in Delhi for selected models.
Maruti Suzuki had raised the car prices back in April and January earlier. In April, the price hike was nearly 1.6 percent across ex-showroom cost for various models, while in January there was a price hike of Rs 34,000.
The leading auto manufacturer had said in August that the cost of its vehicles was adversely impacted in 2020 due to an increase in various input costs and therefore it has become really important to transfer some of the additional cost to customers through a rise in the price of the vehicles.
In an interview with Moneycontrol, Maruti’s senior executive director ( Sales and Marketing) Shashank Srivastava said that input costs include the price of steel, which has gone up from Rs 38/Kg to Rs 65/Kg in May-June this year, copper prices, which have been doubled from $5,200/tonne to $10,200/tonne.
Srivastava added that prices of precious metals like rhodium have gone up from Rs 18,000/gram in May 2020 to nearly Rs 64,000/gram in July.
According to the company’s official website, the company had clocked a total sale of 1,30,699 units between August 1 and August 30 this year. The website says that the sales volume in August 2021 was affected due to electronic component shortages. However, the company took all possible measures to limit the adverse impact.