Maruti Suzuki hiked prices due to increase in input costsHighlightsMaruti Suzuki hiked prices on selected models from today Maruti Suzuki reported total sales of 1.67 lakh units in March 2021 Maruti Suzuki closed 0.04 per cent lower at Rs 6,649.65 on BSEThe country's biggest carmaker Maruti Suzuki has hiked prices on selected models from today, April 16, due to an increase in various input costs.
According to a regulatory filing by the company to stock exchanges, the weighted average price increase in ex-showroomprices (Delhi) across selected models is 1.6 per cent.
This is the second price hike on cars by the company this month, and the third hike since February.
The new prices are effective starting from Friday, April 16.
(Also Read:Maruti Suzuki Rises Nearly 1% On Hike In Car Prices)Automakers across the country have increased prices on car models this year due to a rise in input costs.
In March this year, Maruti Suzuki said in a statement that will undertake price hikes due to increasing input costs and the price increases vary for different models.
Also, in January, the company said it will hike price up to Rs 34,000 on some car models.Rival Mahindra and Mahindra had also increased prices of its personal and commercial vehicles by 1.9 per cent in January.
While Tata Motors increasedprices for its passenger vehicles by up to Rs 26,000.Meanwhile, on April 1,Maruti Suzuki reported its monthly auto sales.
The carmaker reported atotal sales of 1.67 lakh units in March 2021, up almost 99 per cent, compared to83,792 units in the corresponding month last year.
In a statement, Maruti Suzuki said that the domestic sales in the financial year 2019-20 declined 18 per cent and also, sales in fiscal 2020-21 were affected due to the COVID-19 crisis.(Also Read:Maruti Suzuki Sales Drop 6.7% In 2020-21, 1.67 Lakh Units Sold In March)Thetotal sales, including domestic and export, dropped 6.7 per cent in the financial year 2020-21, compared to the earlierfiscal of 2019-20.Maruti Suzuki was last trading 0.28 per cent higher at Rs 6,670.40 on the BSE.
On Friday, Maruti Suzuki opened on the BSE at Rs 6,675,touchingan intra day high of Rs 6,782 and an intra day low of Rs 6,611, in the trading session so far.