Maruti Suzuki hikes prices of cars again for fifth time since January 2021
Maruti Suzuki, India's largest carmaker, has once again announced yet another price hike on its cars on Monday. The latest hike, fifth since last year, has been implemented across the range of models currently available in its stable for Indian customers. Maruti Suzuki has said that the latest price hike, which is effective from today, became necessary due to the impact of rise in input costs. On an average, Maruti cars will cost 1.3 percent more of its ex-showroom price from now on.
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Since January last year, Maruti Suzuki has increased prices of its models at least five times. Overall, these hikes have increased the prices of Maruti cars by almost nine percent in the last five quarters. Maruti Suzuki leads the small car segment in India with models ranging from Alto to S-Cross. The latest hike will increase price of Maruti cars by 0.9 per cent to 1.9 per cent depending on models and variants.
Maruti had earlier hinted at the price rise. On April 6, the carmaker had issued a regulatory filing which said that the cost of its vehicles continues to be adversely impacted due to increase in various input costs. Maruti Suzuki had said, "Over the past year, the cost of company's vehicles continue to be adversely impacted due to increase in various input costs. Therefore, it has become imperative for the company to pass on some impact of the above additional costs to customers through a price hike."
Maruti Suzuki is currently on a launch spree of new vehicles starting from the new Celerio, which was launched last year. Maruti Suzuki launched the new generation Ertiga last week at a starting price of ₹8.35 lakh (ex-showroom). On Wednesday this week, Maruti will launch the facelift version of the XL6 MPV as well. This year, Maruti also plans to launch the new Vitara Brezza and a new compact SUV to rival the likes of Hyundai Creta and Kia Seltos.