From April, here is what will happen to Maruti Suzuki car prices
From the coming financial year, Maruti Suzuki India Ltd to increase the prices of its vehicles (April 1) amid rising input cost, the company said in a filing to bourses. Maruti Suzuki had hiked prices in January by up to Rs 34K
From the coming financial year, Maruti Suzuki India Ltd to increase the prices of its vehicles (April 1) amid rising input cost, the company said in a filing to bourses.
"Over the past year, the cost of company's vehicles has been impacted adversely 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 increase in April 2021, India's biggest car makers in volumes said in an official statement.
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This is second such hike in the current year. The company in January had hiked its vehicles prices by up to Rs 34,000. it also mentions that the price hike to vary across vehicles.
According to last month's SIAM (Society of Indian Automobile Manufacturers) data, an auto body, has reported rise in passenger vehicle sales by 18 per cent to over 2.8 lakh units.
The company's stock after being volatile for whole session dipped by 0.1 per cent today.
The company's Chairman RC Bhargava, earlier in last week, had raised many concerns with respect to the scrapping policy that was discussed in the Parliament.
Last couple of months, it's not just Maruti but other auto manufacturers have been dented with rising input costs including raw materials. Overall, auto companies' margins and valuations have also been hit due to the input costs concern.
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