Rising input costs to see PV market leader hike prices for the second time this year.
23 Mar 2021 | 5315 Views | By Autocar Professional Bureau
Maruti Suzuki India has announced plans to raise prices of its vehicles this April, essentially to offset rising input costs.
This will be the second price hike in 2021. On January 19, the company had hiked prices across its vehicle range, by up to Rs 34,000. The revised ...
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Maruti Suzuki India has announced plans to raise prices of its vehicles this April, essentially to offset rising input costs.
This will be the second price hike in 2021. On January 19, the company had hiked prices across its vehicle range, by up to Rs 34,000. The revised prices are an uptick between 1 percent and 6 percent over the earlier prevailing ex-showroom prices in Delhi, and range between Rs 5,000 to a maximum increase of Rs 34,000 depending upon the vehicle model.
Yesterday, in a regulatory filing, the company said: “Over the past year the cost of company's vehicles has been impacted adversely due to increase in various input costs. 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. This price increase shall vary for different models.”
In February 2021, Maruti Suzuki clocked sales of 144,761 passenger vehicles, which marks 8.3% year-on-year growth (February 2020: 133,702). For the April 2020-February 2021 period, total PV sales are 1,147,637 units, down 14.2% on year-ago sales of 1,338,106 units.