India’s largest carmaker Maruti Suzuki India on Monday announced hikes in prices up to 1.69% across all models except Celerio, effective from today.
The company statement to the BSE said, “In continuation to our earlier communication on 30th August 2021, please note that with effect from 6th September, 2021, the company announced a price change for select models owing to increase in various input costs.”
“The weighted average price increase in Ex-showroom prices (Delhi) across select models is 1.9%,” the statement added.
This is the third price hike from the carmaker this year. Earlier, the carmaker hiked prices in January and April. As a result, the overall price has been hiked by 3.5%.
The vehicle manufacturer sells a range of cars from entry-level hatchback Alto with a starting price of INR 2.99 lakh to crossover S-Cross INR 12.49 lakh.
Industry experts say the prices of raw materials such as copper have doubled, and similarly, steel prices have increased steeply. So car manufacturers are left with no choice but to increase the prices.