Maruti Suzuki has said in a regulatory filing that it will increase the prices of its vehicles from Monday 6 September 2021 i.e. from today. It was earlier informed by the company, on August 30, to the regulator that it is going to increase the prices of its models from September. Maruti Suzuki said in the information given to the NSE that the company is going to increase the prices of all the models by an average of 1.9 percent. In a BSE filing, the company said that with effect from September 6, 2021, the company will make price changes for select models due to an increase in various input costs. The select models will get an average price hike of 1.9 percent over the ex-showroom price (Delhi).
Let us tell you that the country's largest automaker Maruti had said in August that the cost of the company's vehicles has been adversely affected as compared to the previous year due to an increase in various input costs. Therefore, it has become imperative to pass on some additional costs to the customers through an increase in prices. An increase in prices for all models is planned for September 2021. The company had earlier increased the prices of cars in April and January. The price hike in April was 1.6 percent ex-showroom across all models, while in January the hike was up to Rs 34,000 on select models.
Let us tell you that Maruti Suzuki is not the only company, which is increasing the prices of its vehicles due to rising raw material prices and an increase in various input cost costs. Other automakers may also increase the prices of their vehicles soon, citing these things. We are saying this because even before this when the prices of vehicles increased this year, other automakers along with Maruti had also increased the prices of their cars.
Let us inform you that MSI Senior Executive Director (Sales and Marketing) Shashank Srivastava had told PTI that, in May-June this year, steel prices have increased from Rs 38 per kg last year to Rs 65 per kg. Similarly, copper prices have doubled to $10,000 a tonne from US$ 5,200 a tonne. Apart from this, Srivastava said that the prices of precious metals like rhodium have increased from Rs 18,000 per gram in May 2020 to around Rs 64,300 per gram in July now. Due to this it has become imperative to increase the prices of cars.