Due to ongoing increases in material costs.
MSI has already increased vehicle prices by roughly 8.8% from January 2021 to March 2022.
Maruti Suzuki India (MSI), the country’s largest carmaker, announced on Monday that:
It has increased prices across the board by 0.9 percent to 1.9 percent, effective immediately.
The business, which sells a variety of automobiles from the Alto to the S-Cross, said it decided to raise prices due to rising input costs.
It said that the weighted average price increase in ex-showroom prices across models, which took effect on April 18, is 1.3 percent.
Due to ongoing increases in material costs, MSI increased vehicle prices by roughly 8.8% from January 2021 to March 2022.
According to a regulatory filing earlier this month, the cost of the company’s automobiles has been negatively impacted over the previous year due to increases in various input expenses.
The cost of the company’s automobiles has been negatively impacted over the last year due to increases in various input costs, the automaker claimed in a regulatory filing earlier this month.
Automakers have been raising prices on a regular basis to offset the impact of rising costs of several critical commodities such as steel, copper, aluminum, and precious metals, according to the business.
Mahindra & Mahindra increased car pricing by 2.5 percent last week, resulting in a price rise of up to Rs 63,000.
Toyota Kirloskar Motor, meanwhile, has increased prices across the board by up to 4% as of April 1.
Audi, Mercedes-Benz, and BMW, among others, have lately announced rising prices.
Meanwhile, according to Siam data, Maruti Suzuki India is the market leader in the passenger vehicle class, with over 2.3 lakh units sold.
Maruti Suzuki India shipped 2, 35,670 passenger vehicles in the last fiscal year, up from 94,938 units in the previous fiscal year.
Latin America, ASEAN, Africa, the Middle East, and neighboring regions are Maruti’s major export markets, with the Baleno, Dzire, Swift, S-Presso, and Brezza among its top five export models.
To read our blog on “Suzuki’s Hungarian plant has stopped exporting cars to Russia and Ukraine,” click here