The new rates are effective from April 16, 2021. However, Maruti Suzuki is yet to announce as to which particular models' prices have been increased
Maruti Suzuki on Friday announced an increase in prices of its select models to offset the impact of high input costs.
The new rates are effective from April 16, 2021. However, the carmaker is yet to announce as to which particular models' prices have been increased.
"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 new prices are effective from today i.e., 16th April 2021," the company said in a regulatory filing.
Maruti Suzuki had on March 22 announced that it would increase prices across its model range from April to offset an increase in raw material costs.
Over the past year, the cost of the company's vehicles has been impacted adversely due to an increase in various input costs, the auto major said in a filing.
"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," it added. The price increase shall vary for different models, it added.
The company, however, did not share details about the quantum of the price hike.
On January 18 this year, the automaker had announced to hike prices of select models by up to Rs 34,000 due to a rise in input costs.
The carmaker retails 14 models in the country, 5 of which are sold through Nexa showrooms. Besides Maruti, many other automakers have also hiked the prices of their vehicles due to an increment in several input costs.