New Delhi: Leading auto manufacturer Maruti Suzuki India Ltd on Monday said that it has increased the price of its Swift and all CNG variants due to increase in input cost. With effect from 12th July, the automaker will hike the prices of these models by upto INR 15,000.
“Maruti Suzuki India Limited today announced a price change for Swift and all CNG variants owing to increase in various input costs. Increase in Ex Showroom Prices (Delhi) is up to INR 15,000 on the above models. The new prices are effective from today i.e. 12th July, 2021,” Maruti Suzuki India Ltd stated in a regulatory filing today.
The price increase in other models is planned shortly and shall be intimated accordingly, it further added.
In a regulatory filing last month, the company said that it has become imperative to pass on some impact of additional cost to customers.
Earlier, Maruti Suzuki had raised prices for different car models in April in order to partially offset the rise in input costs. In January, the carmaker had cited a rise in input costs and had increased prices for some car models. The prices were hiked by up to INR 34,000 depending on the model and ranges.
Last week another automajor Tata Motors also announced its plans to go for appropriate increase in prices of its range of cars and SUVs
The steep climb in overall input costs, especially due to continuing rise in costs of essential raw material including steel and precious metals, necessitates a transfer of at least some part of this increase to end customers, it said in a statement.
News source- Economic Times